The recently refurbished and renamed Red Mill Trading Estate in Wednesbury has secured its first five tenants. Nearly 60,000 square feet has now been taken at the site, formerly known as the Redmill Snack Foods site.
The site was purchased for £1.79m in October 2015 by Goold Estates, a commercial property management, investment and development company based in Walsall. The 130,000 square feet, 6 acre estate had stood vacant since 2011 when its previous owner, Tayto, the third largest snack manufacturer in the UK and owner of Golden Wonder, moved its production to Corby.
Goold Estates identified a shortage of quality small industrial units in the area and invested £1.2m in the refurbishment of the site. It is now starting to see benefits of this investment as its first tenants move in.
The work to the site included some selective demolition to open up the estate and improve circulation, necessary for a multi-let estate. The first phase of completed units provides light industrial and warehouse units ranging from 2,500 square feet up to 15,000 square feet.
In December BJS Distribution, part of The Cotswold Company, moved into a 40,000 square feet unit, as did Billsave Insulation, which now occupies 5,000 square feet. Amber Foods, part of the Two Sisters Group, is the latest occupier to sign up to a 5,000 square feet unit and Screwfix has taken 5,300 square feet. The adjacent units are expected to be taken by other trade counter occupiers very soon.
The estate’s location close to the M6 and Black Country New Road make it beneficial to its new occupiers.
Dominic Goold, managing director of Goold Estates, said: “Recognising the shortage of quality industrial and warehouse units we commenced demolition works to open up the estate and a full refurbishment of units immediately after the purchase and have been delighted with the take-up.
“Not only have we secured our first five tenants but a further four units are under offer. This gave us confidence to refurbish the final 20,000 square feet which will be completed in the spring.”
Has your Sandwell-based business got good news to share? Email email@example.com with your updates or press releases today.