Work on Target at new Redditch Industrial Scheme

Construction work has begun on a speculative new £12 million development in Redditch - only the third, new industrial scheme to be built in the town in the past five years.

Target Park will provide rare, freehold accommodation for local businesses, and those in surrounding counties .

The development is being built in two phases and, such is the level of interest in the first phase, work on the second phase is expected to be rolled out immediately following its expected completion in May.

Planning was granted last year for 110,000 s ft of manufacturing, distribution and light engineering units, on a 5.5-acre site on Shawbank Road, in the Lakeside area of Redditch. The first phase is a speculative build of 53,750 sq ft, in units ranging from 6,000-12,250 sq ft. The second phase, on the remaining three acres of land at the rear, is expected to be built as a pre-let, or pre-sale, for up to three occupiers.

Prior to construction, the former Dana Automotive factory was demolished, and the site cleared, to make way for the redevelopment, which is a joint venture between Midlands-based Oakham Developments and Abacus Developments, the property investment and development arm of the Sir Robert McAlpine Group.

Kenny Allan, of Birmingham letting agents CBRE, said the lack of new stock in Redditch had already brought in a flood of enquiries from manufacturers, distributors and service sector companies in Redditch, Solihull and Kings Norton.

"The nearest freehold, new build is in the Droitwich area, so it's no surprise this development has caught everyone's attention." he added.

"The number of enquiries has been so high that we can foresee rolling on construction to Phase 2 immediately after Phase 1 is completed next Summer. "

Target Park is the only freehold site coming forward in the next 18 months to two years, due to lack of supply of land, with only two such schemes built in the past five years. Oakham Developments can involve occupiers at any stage in the design process.

Andy Griffiths, Director of Oakham Developments, said: "We are delighted to have started on site, and we are looking forward to putting the first units under offer very shortly."

All enquiries to Kenny Allan on 0121 609 7666.