INDUSTRIAL BUILDING SOLD FOR NEW HQ
A newly built Redditch industrial building has been sold to one of the UK’s fastest growing electronics distribution business for its new headquarters.
Altus Group has acquired Unit D, a 2,405 sq ft industrial unit at Crescent Trade Park in Moons Moat at a quoting price of £130psf.
With more than 200 clients, 16 suppliers and 15 staff, the company which supplies electronic production equipment to the UK and Irish markets has outgrown its current headquarters in Stockwood, Worcestershire, and plans to relocate early next year.
Managing director Richard Booth said: –
“We are delighted that we will have a brand-new purpose-built HQ to start 2019 in style.
“Due to the continued expansion of our client base, number of engineers in our team, and product portfolio; we have taken the opportunity to upgrade our facilities to better support our activities in the UK.
“It will help us serve customers from one large, efficient and centralised facility which is located logistically very close to the M40 for easy accessibility.”
Brought forward by MacMullen Associates and completed by Halesowen-based A&H Construction & Developments in July 2018, Crescent Trade Park is a £3.5m development of 24,000 sq ft of commercial and industrial space across 12 units, available for sale or let.
The deal was secured by commercial property agents Bromwich Hardy and KWB.
David Penn, Partner at Bromwich Hardy, comments: –
“With it’s excellent links to J3 of the M42 and the national motorway network and the supply of flexible labour in Redditch, it is no surprise that Altus have chosen Crescent Trade Park for its new HQ. We expect many more businesses to be joining them there in the next few months. Nothing like Crescent Trade Park has been built in Redditch for years, so it is satisfying a pent-up demand and is driving a very high level of enquiries.”
Kenny Allan, director of industrial agency at KWB, added: –
“Achieving £130psf for the sale of this unit to Altus Group underscores MacMullen Associates’ vision in developing this high-quality scheme to meet the need for smaller industrial and commercial space”.
For more information on the availability at the Park please contact David Penn at the Bromwich Hardy office on 02476 308900
14 November 2018