KWB and Bromwich Hardy have sold a newly-built Redditch industrial unit at Crescent Trade Park. The unit has been acquired by the UK’s fastest growing electronics distribution business, Altus Group, for its new headquarters.
Altus Group has acquired Unit D, a new 2,405 sq ft Redditch industrial unit at Crescent Trade Park in Moons Moat, at a quoting price of £130 per sq ft. With more than 200 clients, 16 suppliers and 15 staff, Altus has outgrown its current headquarters. The supplier of electronic production equipment to the UK and Irish markets plans to move from Stockwood, Worcestershire, to Crescent Trade Park in early 2019.
At Crescent Trade Park in Redditch (l-r): Kenny Allan (KWB), Richard Booth (MD Altus Group) and David MacMullen (Macmullen Associates).
Richard Booth, Altus Managing Director, said: “We are delighted to have a brand new purpose-built HQ to start 2019 in style. Due to the continued expansion of our client base, number of engineers in our team, and product portfolio, we have taken the opportunity to upgrade our facilities to better support our activities in the UK. One large, efficient and centralised facility, located logistically close to the M40, will help us to serve customers.”
Brought forward by MacMullen Associates and completed by Halesowen-based A&H Construction & Developments in July 2018, Crescent Trade Park is a £3.5 million development. It comprises 24,000 sq ft of commercial and industrial space across 12 units, which are available for sale or to let.
In addition to the deal with Altus Group, two units have already been let to Subway and Greggs for drive-thru facilities. There is also further interest, at different stages, on five of the remaining properties at the Park.
Kenny Allan, Director of the industrial agency team at KWB, said: “Achieving £130 per sq ft for the sale of this unit to Altus Group underscores the client’s vision for the development. MacMullen Associates developed this high quality scheme to meet the need for smaller industrial and commercial space. Nothing like Crescent Trade Park has been built in Redditch for years, so it is satisfying a pent-up demand and is driving a very high level of enquiries.”
David Penn, Partner at Bromwich Hardy, said: “With its excellent links to J3 of the M42 and the national motorway network, and the supply of flexible labour in Redditch, it’s no wonder that Altus has chosen Crescent Trade Park for its new HQ. We expect many more businesses to be joining them there in the next few months.”
Warehouse, industrial and trade counter units are available at Crescent Trade Park from 1,520 sq ft to 6,570 sq ft. KWB encourages any interested parties to get in touch promptly, to avoid disappointment.