New owners for industrial units at Burton–On–Trent will create more local jobs
Just eight weeks after completing a major refurbishment project at Althea in Wellington Park near Burton, joint venture partners Craigard Investments and Ryon Properties (Craigard Ryon) have seen a 60% uptake in available space.
The 85,237 sq ft production/warehouse scheme, which was bought by Craigard Ryon at the beginning of the year, was previously occupied by one company and has been reconfigured to provide six self-contained units.
Lichfield International Freight Transport (LIFT) has bought three units totalling 36,735 sq ft to boost its regional capacity and Johnson Controls has taken a seven-year lease on a 15,454 sq ft unit to support its work with Toyota at nearby Burnaston, which will be serviced by its Burton facility adjacent to the premises.
According to joint agents Donaldsons, part of DTZ and Gadsby Orridge, the speed and quality of these early deals emphasises the scheme's appeal as a strategic location from which businesses are able to service the Midlands and beyond.
Craigard Ryon has invested a substantial amount of capital in the refurbishment of the scheme, including the removal of internal floors in several units, redecoration throughout and the sub-dividing of the floor space to make the six units.
Paul Foster, managing director of Craigard Investments, said: “Burton on Trent is emerging as a key strategic location and we believe there is a clear lack of comparative opportunities available in the local market, hence the substantial commitment which we made to the project. The range of unit sizes within the final scheme would appeal both to owner-occupiers and tenants, and would create a diverse offering in the market place. Our success to-date has more than justified our commitment to the project.”
Chris Cocks of Donaldsons said: “There is currently a serious shortage of good quality stock with such strong links to the region's communication networks and this, combined with the standard of refurbished accommodation at Althea is proving to be very attractive for occupants.”
Andrew Nichols of joint agents Gadsby Orridge, Derby, said: “Given the success that we have achieved in the initial stages of the marketing, we have two units left. One of 10,451 sq ft on a site of 1.57 acres and the other of 22,597 sq ft. Both are available either to purchase or to let, and I feel that given the smaller building has such a generous yard area, it is likely to appeal to occupiers including builders merchants and logistics companies. We are talking to several occupiers on the buildings at the moment.”
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