Strong interest in industrial and office properties throughout 2019
A short supply of development land and units across Shropshire has resulted in Bulleys Bradbury experiencing a strong market for industrial and office properties throughout 2019.
The Telford-based commercial property specialist has seen multiple sales and lettings in the last 12 months and is marketing a number of valuable developments.
These new developments include Pioneer Park at Halesfield, where Redsun Projects plans to build three units of 15,000, 23,000 and 40,000 sq ft for sale or to let.
Bulleys Bradbury is also acting jointly with LSH to arrange the letting of a 70,000 sq ft unit on 3.3 acres of land at Hortonwood West, where Trebor Developments’ speculative build start this month.
Richard Bradbury, director of Bulleys Bradbury, said: “Both these developments will be welcomed by the market as there is a particular shortage of units over 20,000 sq ft.
“We have had good early interest in the proposed Pioneer Park, with one unit already under offer.”
Recent deals arranged by Bulleys Bradbury include the sale of a 25,000 sq ft refurbished unit at Halesfield 9, with joint agents Andrew Dixon, to a local IT business.
Meanwhile, the company has let a 30,000 sq ft unit at T54, with strong interest in the remaining unit measuring 17,000 sq ft, and a logistics company has taken a 20,000 sq ft unit at Halesfield 5.
Another industrial letting handled by Bulleys Bradbury in 2019 included an 8,900 sq ft space taken by ULVA Insulation Systems Ltd at Hortonpark, Hortonwood 7, following a series of deals at the estate totalling 27,000 sq ft.
In the office sector, Bulleys Bradbury has arranged more lettings in Pemberton House at Stafford Park, including a 4,500 sq ft space to recruitment firm Reed in Partnerships. This follows six office lettings at Pemberton House earlier this year.
Bulleys Bradbury and joint agent Andrew Dixon & Co also handled the sale of the 13,500 sq ft Wilkinson House at Stafford Park, off an asking price of £1.3m.
And Bulleys Bradbury has just sold a residential site of 1.3 acres at Hadley in Telford, where some 26 affordable homes are due to be built.
Richard Bradbury, director of Bulleys Bradbury, said: “The office market has seen good activity, with particular demand for offices less than 2,000 sq ft in central Telford.
“Overall, there has been a keen appetite for industrial and office properties throughout 2019, driven by competition for a short supply.”