Developers frustrated by a lack of opportunities are expected to show a keen interest in acquiring a 10.3-acre site in a prime location for industrial development.
LSH is inviting expressions of interest on the development site at Acanthus Park, within Ravensbank Business Park, in Redditch, described as the premier and most accessible site for industrial and logistics development in the area.
Rare freehold opportunity in prime location
Acanthus Park offers developers or owner occupiers the chance to acquire the freehold of a prime development opportunity in an established location where freehold opportunities are rare.
LSH has been appointed by Severn Trent Water Ltd to dispose of the site.
Alex Carr, Director of Industrial Agency at LSH in Birmingham said it would appeal to property firms considering speculative development opportunities. The site is suitable for B1/B2/B8 uses, subject to planning, and has the potential to provide up to 150,000 sq ft of accommodation.
Site expected to attract great interest
Alex said: “This is the best prime location for industrial development in Redditch. It will appeal to developers, institutional investors and owner-occupiers because of the shortage of good quality industrial buildings and suitable development land in the region.
“It is a rare opportunity indeed and we expect there to be a great deal of interest. Formal expressions of interest should be submitted to the Birmingham office of Lambert Smith Hampton no later than Friday July 4.”
Acanthus Park lies within four miles of the M42 (J3) via the A4023 and A435 dual carriageways. Existing occupiers on the business park include John Lewis, Amco, Intier Automotive, LEAR, Heller UK and the SP Group.
It previously had detailed planning consent for three detached, self-contained buildings, each with dedicated yard areas and independent car parking, but this has now expired. The site offers a pleasant and efficient working environment.