A local businessman and property investor is investing nearly £2 million of his own money into a speculative industrial development in Stoke-on-Trent which is set to create 14 units.
Fred Smith also owns ceramics business H & E Smith, which celebrates its 100th anniversary this year and operates on Broom Street, in Hanley, opposite the new development.
The new scheme, to be known as Marlborough Court, is being developed on the site of a former school and factory, which has been vacant for at least five years.
The development is being brought forward in three phases and will deliver a new industrial estate made up of four portal-framed buildings, subdivided into 14 self-contained units.
In total, the scheme will provide just under 23,000 sq ft of space, with units ranging from 1,237 sq ft to 2,260 sq ft. The design also allows for units to be combined to create larger floorplates where required.
Planning permission has been granted for general industrial (B2) and warehouse and distribution (B8) use, with each unit set to include roller shutter access suitable for HGV loading, integral office accommodation and toilet facilities. Dedicated parking spaces will be provided for each unit.
Solar panels will be installed across the roofs of the buildings to provide tenants with access to lower-cost, low-carbon electricity.
Marketing of the scheme has only recently begun, but early interest has already been reported in a number of units.
Steve Gallet, managing director of property agents Rory Mack Associates, which is marketing the scheme, said: “In the last few years there has been very little built speculatively in the city in this style and size of unit.
“The units are designed to meet the needs of SME businesses in the city, where there is a notable lack of good quality industrial units currently being offered to the market.
“I will be very surprised if this development isn’t full within the full 12 months.”
The first phase of the development is expected to complete in September or October this year, with all units available to let on terms to be agreed. Rents will start from £12,000 per year.
