Our commercial agency team have recently advised one of our key clients, Mileway, on the potential of a Kidderminster trading estate, following its purchase through a portfolio acquisition. The estate is now fully let after a kitchen and homeware company has been confirmed as the final tenant.
The last unit at Haynes Point, which underwent a major redevelopment last year, has been occupied by Captivate Brands Ltd after a deal was agreed to secure the letting of the 76,200 sq ft unit. The wider Haynes Point project saw a 220,000 sq ft former manufacturing facility comprehensively refurbished and repurposed to provide a multi-let industrial estate. Final tenant Captivate Brands Ltd will utilise the premises for the distribution of kitchen equipment following its relocation from Birmingham.
The site was no longer deemed fit for purpose in its current configuration and as a consequence, significant areas of demolition were required to produce a scheme suitable for modern occupiers. As a result, the premises was subdivided to create trade units, industrial premises, and warehousing accommodation attractive to the Worcestershire marketplace, and occupiers were secured for all of the accommodation.
One of our partners, Mike Price, said: “The re-purposing of the Haynes Point complex emphasises the need of the local market. We were very much aware that the original configuration of the accommodation was not suitable for the local demand in the area, so were able to provide Mileway with the best possible insight into the regional economy. Through significant investment, Mileway has produced a scheme that generated significant interest, resulting in a great tenant lineup, including the final addition of Captivate Brands Ltd.”
Asset Manager at Mileway, Laura Witherford, added: “Haynes Point is a great example of how, through active management and appropriate investment, we can provide accommodation that is attractive to the market and can support business growth and the local economy. We are delighted to welcome Captivate Brands Ltd to Haynes Point.”
Fisher German and Harris Lamb acted on behalf of Mileway. Noyes-Lewis Real Estate acted for Captivate Brands Ltd.
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