Shortage of warehouses in the West Midlands risks SME growth
A shortage of smaller modern industrial units and warehouses in the West Midlands is adversely affecting the growth of small and medium enterprises (SMEs), according to leading industrial agency, Birmingham-based KWB.
Kenny Allan, Director of KWB Industrial agency, says that a lack of modern manufacturing units and warehouses West Midlands is halting expansion plans and threatening future growth at companies across the region.
He says: “A recent report estimated that, over the next three years, the SME sector in and around Birmingham could see growth of 11% to deliver an annual contribution of some £6.5bn to the economy, but this is being put at risk by a lack of suitable industrial premises.
“Despite SMEs being the engine room of the British economy, this sector is the most overlooked when it comes to the delivery of new modern industrial units and warehouses West Midlands. Few developers are willing to build industrial units in the 1,500 sq ft to 10,000 sq ft size range where the shortage is greatest, and with as many as one in three businesses looking to relocate at any one time, this is a real problem.
“We have multiple commercial property enquiries from companies seeking modern industrial units which meet their business needs for expansion space, high energy efficiency and better storage and warehousing space with higher eaves heights. However, the demand far outweighs the number of available industrial units.”
According to Kenny Allan, one ray of hope is the development, pictured here, of 12 new smaller industrial units in Redditch, managed by MacMullen Associates for A&H Construction & Developments at Crescent Trade Park, Moons Moat Drive, where work starts on site later this month (May 2017) with completion due in November.
He says: “KWB Industrial agency has been retained, with Bromwich Hardy, to market the industrial units at the 21,500 sq ft development, which are available in sizes from 1,450 sq ft up to 9,330 sq ft on a leasehold basis, but freehold sales may also be considered on some units.
“This is exactly the sort of modern industrial space which smaller companies in the West Midlands industrial, warehouse and trade counter market require, in a most prominent location with a landmark drive-thru McDonalds opposite, and we have already started talking to potential occupiers.
“We also continue to talk with local authorities, investors and commercial property developers about the opportunities to develop these much-needed new industrial units on other sites in the West Midlands.”
For further information on Crescent Trade Park warehouse units Redditch and the availability of warehouses in Birmingham and West Midlands, contact Kenny Allan on 0121 212 5996 or kallan@kwboffice.com.
