Following the sale last December of Lydney Harbour Industrial Estate by Mabey Group to real estate developers Mercia Estate, a new team has been brought in to help attract new tenants to the estate.
M4 Property Consultants have been appointed by the new owners to lease the recently refurbished units on the 500,000 sqft business park, as well as assisting some of the existing tenants with upsizing to larger units.
Dan Smith, director of M4 Property Consultants, said: “Lydney Harbour Estate is a well-established business park, with a range of industrial occupiers including high precision engineering, food production and more general industrial uses. The estate is of particular interest those looking to serve the South West of England, the Midlands and South Wales markets.
“That said, many of the current tenants have been on the business park for several years and due to the variety of units here they have been able to move to larger premises as they grow. Interestingly, there are a high percentage of family-owned businesses, some of which are second and third generation which provides a secure, friendly environment.”
Last June, work began on the regeneration of Lydney Harbour, which sits next to the industrial estate. The work is the first phase of the £2.1 million Destination Lydney Harbour project, funded by the Ministry of Housing, Communities and Local Government’s Coastal Community Fund. The project, devised by Lydney Coastal Community Team (LCCT), will improve the transport roots into Lydney Harbour and develop the area as a recreation and tourism destination.
With all the investment currently under way into the town, M4 Property Consultants anticipates finding tenants for the available units quickly.
Dan Smith addedL “Demand for commercial property is exceptionally strong now and exceeding supply. The refurbished units range in size from 833 sqft to c. 9,500 sq ft and with rents starting from as little as £100 per week plus VAT, interest is already strong and two new lettings have already been agreed.”
In addition to the buildings on the business park, there will also be secure yard areas, ranging in size from 0.5 to 1.5 acres.
Dan added: “We hope that the new investment going into the estate will result in further jobs being created for local people and more money staying within the local economy, which would be a great result for all involved.”