PRESS RELEASE

8 January 2018

GJS DILLON LETS AND SELLS “HIGHLY SOUGHT AFTER”

14,500 SQ FT REDDITCH INDUSTRIAL UNIT

Worcestershire commercial property consultancy and Chartered Surveyors GJS Dillon has completed back to back deals letting, then selling the freehold of a 14,500 sq ft industrial unit in Redditch.

Acting on behalf of a private client, John Dillon, managing director of GJS Dillon, let Unit 10 Merse Road, North Moons Moat/Ravensbank, Redditch, B98 9HL, a 14,698 sq ft detached modern industrial warehouse, on a new 10 year lease, to Clearwater Group, at an annual rent of £70,000, achieving a premium over the quoting rent.

Mr Dillon then sold the freehold of Unit 10 to a private investor for £825,000, representing a net initial yield of 8.04%. 

Clearwater Group provides water treatment and air hygiene products and services from 10 locations across the UK.  GJS Dillon previously sold the freehold of Clearwater’s 6,705 sq ft grade A warehouse with ground and first floor offices at Saxon Business Park, Bromsgrove, to Bromsgrove company Watertight Management Limited, enabling both local companies to expand.

Mr Dillon says: “We were able to help Clearwater expand from their premises in Bromsgrove to a much larger industrial unit in Redditch and Watertight Management to find larger premises within Bromsgrove. 

“10 Merse Road is a good quality modern industrial warehouse, located on a popular trading estate close to Junction 3 of the M42, which was highly sought after as a result of the shortage of premium industrial property throughout Worcestershire.

“Industrial / warehouse units in Worcestershire continue to be pursued by growing businesses which want to benefit from the county’s location, positive economic performance and outlook, and flexible workforce.  Once we had a tenant interested in a new ten year lease, we were able to quickly find an investor and complete back to back deals.”

Further information on available Worcestershire industrial units to let and for sale is available from John Dillon or Charlie Green at GJS Dillon on tel. 01905 676169 or via www.gjsdillon.co.uk.

With offices in Droitwich, Worcester and Bromsgrove, GJS Dillon is a firm of Chartered Surveyors which offers a comprehensive commercial property service, including commercial agency, commercial property management, valuations, and building consultancy, and unrivalled geographical coverage, throughout Worcestershire and along the M5 and A38 corridors. 

Picture caption: 10 Merse Road, Redditch, a 14,500 sq ft industrial unit let and sold by GJS Dillon.