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| the west midlands


WORCESTER SIX: A MAJOR £120 MILLION DEVELOPMENT


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orcester Six, a major £120 million development located in the heart of


Worcestershire, has already secured large investment after opening in June 2017. Two units of 162,000 sq.ft and 45,000 sq.ft are the first to be built at the Worcester Six site – which will eventually provide up to 1.5 million sq.ft of accommodation in a range of high quality business units.


The units have been designed for a variety of employment uses to include technology, manufacturing, industrial and warehousing. A new 140,000 sq.ft business unit is set to be built after Kimal PLC agreed to locate its new headquarters at the prestigious site, located off junction six of


The creation of new jobs will help to boost the local economy and the expansion of innovative, market leading businesses is important for delivering the Worcestershire Local Enterprise Partnership’s 10 year Strategic Economic Plan.


the M5 near Worcester. Innovative med-tech business, Kimal, became the first occupier at the £120million Worcester Six business park after agreeing a 15-year lease for the £13million unit. The new HQ


demonstrates Kimal’s determination to remain


NEW WORCESTERSHIRE INDUSTRIAL PROPERTY SET TO REACH RECORD PRICES


rices for new industrial properties across Worcestershire are set to reach new highs due to the shortage of quality units coming to the market, according to one of the county’s leading commercial property agents.


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John Dillon, Managing Director at commercial property consultancy GJS Dillon Limited, which has offices in Droitwich, Worcester and Bromsgrove, says that a lack of available new and quality second hand industrial stock is pushing up values.


“Demand is far outstripping supply for industrial units between 3,000 sq.ft and 40,000 sq.ft, as manufacturing and distribution businesses in the county continue to invest in new premises and show increasing confidence in the post- Brexit economy,” says Mr Dillon, whose firm has disposed of more than 60,000 sq.ft of industrial property in the last three months. “This is placing upwards pressure on prices, so within the next six months I would expect to see new build industrial units up to 5,000 sq.ft in the right location in the county touch as much as £120psf, while similar units to rent could reach £7psf.


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“Although they are not going to achieve the same levels as for new builds, prices of good quality second hand units in established business park locations are increasing quarter on quarter, and when they do become available are highly sought after, frequently going to best and final bids,” says Mr Dillon.


“For freeholders there has never been a better time to sell or to rent, but it’s not just as simple as putting a building on the market. To secure the best price on the best terms, and to find the optimum buyer or tenant, it is advisable to seek to professional advice from a local Chartered Surveyor.


According to Mr Dillon, the shortage of industrial units means that businesses which want to relocate are having to spend more time and money looking for new premises, and if they do identify a suitable building are often missing out. He says: “We encourage anybody looking for industrial or office premises in Worcestershire to register their needs with us, then they will be at the front of the queue when we put a new building on the market. If they merely rely on waiting for premises to appear on the property portals, it is often too late and the unit has gone.


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in Worcestershire where it will continue to grow, with plans to create up to an additional 100 jobs. Gary Woodman, Chief Executive of


Worcestershire Local Enterprise Partnership, said: “Worcester Six is a fantastic site which is suited to a range of industries, including digital and technology companies. The creation of new jobs will help to boost the local economy and the expansion of innovative, market leading businesses is important for delivering the Worcestershire Local Enterprise Partnership’s 10 year Strategic Economic Plan.” Worcestershire County Council expects the wider £120 million park to create around 5,000 jobs once the whole development is complete. Work on a £10 million infrastructure package for the park is also making good progress. It includes the off-site highways improvements to access the site which have been funded by Worcestershire Local Enterprise Partnership.


For more information on the Worcester Six business park visit the Worcester LEP website www.wlep.co.uk


£13 MILLION HQ


onstruction of a 140,000 sq.ft headquarters building at the new £120 million Worcester Six Business Park will begin soon after planners gave the development the green light, it was announced today. Commercial property developer


Stoford Developments gained planning consent from Wychavon District Council to build the unit after securing Kimal Plc as the first company to commit to moving to the prestigious site. Kimal PLC agreed to locate its new


headquarters at Worcester Six, located off junction six of the M5 near Worcester. The development will provide 1.5 million sq.ft of accommodation and create up to 5,000 jobs.


Kimal, a market leader in developing and manufacturing a range of innovative products and procedural solutions for the healthcare sector, has agreed a 15-year lease for the £13 million unit. Construction will commence in October for the estate road with the main building construction due to commence in early 2018. Practical completion is expected in mid 2018. The new HQ demonstrates Kimal’s


determination to remain in Worcestershire, with plans to create up to an additional 100 jobs.


COMMERCIAL PROPERTY MONTHLY 2017


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