Evenacre acquisition capitalises on M42 Corridor
Birmingham-based property developer Evenacre has underlined its reputation for identifying under-performing industrial assets and adding value, with a new 100,000 sq ft warehouse scheme near junction 3, M42 Corridor.
The Padgets Lane site in Redditch was acquired by Evenacre and covers just over 3.3 acres on the South Moons Moat business estate, an established location for industrial and logistics uses in the area.
The units are in the process of a £1m refurbishment to improve the overall specification and sustainability offering, with works completing this Spring.
Industrial and Logisitics director, Richard James-Moore from the Birmingham offices of JLL, who is joint agent on the scheme with John Truslove – is confident that the four units will prove attractive.
“Evenacre specialise in multi-let industrial schemes across the Midlands. They know the area, they know their sector, and they’re prepared to invest to attract quality occupiers or investors.
“The M42 is really starting to hot up, with a number of speculative schemes starting, however there is still a lack of good quality distribution space from 8,000 to 75,000 sq ft available to let immediately and this certainly makes Evenacre’s latest acquisition stand out.”
The Padgets Lane site is securely fenced and gated, with just over 100 parking spaces, some 2.5 miles to the east of Redditch, with dual carriageway links to the neighbouring areas, and just five miles from J3 of the M42.