Construction starts as global manufacturer commits to new industrial unit
A new industrial unit is being constructed in the West Midlands for one of the world’s leading manufacturers of refuse collection vehicles, Goold Estates announced today.
The 9,142 sq ft unit at Beecham Business Park, Aldridge, has been pre-let to Dennis Eagle – part of the Terberg RosRoca Group.
Investment and development company Goold Estates has started on site and is expected to reach practical completion of the unit in March 2020. The company will also complete a full fit-out programme.
Dennis Eagle is an existing tenant at Beecham Business Park, with a 26,286 sq ft unit. It is taking a new 10-year lease on its existing unit and a 10-year lease on the new unit, at an agreed rent of £7 per sq ft, with index-linked reviews.
Dominic Goold, managing director of Birmingham-based Goold Estates, said: “This new building marks another major investment by Goold Estates and is the final part of the redevelopment of Beecham Business Park.
“We are delighted to have secured an existing occupier for 10 more years, particularly one as prestigious as Dennis Eagle. The new unit will give them prominence at the front of the estate, overlooking Northgate, which is a busy route in and out of the borough.”
He added: “Since buying Beecham Business Park in 2017 we have invested significantly in the estate. Firstly, 45,000 sq ft of space was completely refurbished for Sleep Design. Following that, offices were re-modelled for EBI and Sleep Design. This latest letting clearly illustrates that our investment and determination to provide high quality business accommodation is paying dividends.”
Dennis Eagle is a world leader in the design and manufacture of refuse collection vehicles, with an established reputation for supplying quality products that meet the highest expectations in terms of performance, cost and delivery.
Dennis Eagle aftermarket director Geoff Rigg said: “We use the existing Aldridge facility for a range of activities, from repair and maintenance of vehicles to training. But our aftermarket services have expanded significantly in recent years and we need more room.
“Aldridge has served us well, so expanding at this site was an easy decision and the process was straight forward thanks to the professionalism of Goold Estates.”
Goold Estates acquired Beecham Business Park in 2017, in a £2.4 million deal. The estate currently has 105,000 sq ft of industrial and office space on a 6.5-acre site. It is fully let with 15 tenants, including Sleep Design and Westway Nissan.
Earlier this year Goold completed the speculative development of Steelpark in Wednesfield, delivering 70,000 sq ft of industrial/warehouse units. All six units were sold to investors and occupiers.