Developer Robert Hitchins has acquired a 25,000 sq ft warehouse in Stonehouse which it intends to refurbish and offer to the market on either a freehold or leasehold basis.
The Gloucestershire-based developer negotiated the purchase of Unit 5 Brunel Way in Stroudwater Business Park as part of a wider transaction which also involved partnering with Greiner Bio-One to develop a new purpose-built 53,500 sq ft facility at RHL’s nearby Stroudwater 13 Business Park.
The new facility enabled Greiner Bio-One to double its warehouse capacity and, in turn, grow its business in the UK.
Refurbishment works on Unit 5 are currently under way and the building, which encompasses a generous car park and yard, will be available for occupation from March 2024.
Michael Plimmer, Senior Development Manager at Robert Hitchins, said: “We were delighted to be have been able to provide Greiner Bio-One with modern, state-of-the-art facilities, giving them the platform to significantly grow their UK business and to stay in the local area.
“By agreeing to acquire Unit 5 at the same time as constructing the new facility it also provided Greiner with cost certainty on their exit and enabled a seamless transition to the new facility.
“It was a great example of developer and occupier being pragmatic and working together in partnership to deliver an outcome that worked for both parties.
“We are delighted to have acquired Unit 5: there are not many buildings of this size available in the local area and we are confident that once refurbished it will appeal to both local and national businesses wanting to set up in the area.
“At Robert Hitchins we have always been proud of our ability to work in partnership with businesses to deliver property solutions and this was no exception.”
Unit 5 in Brunel Way provides a modern warehouse with two-storey office accommodation with storage space on a self-contained plot which sits just off the A419, close to J13 of the M5. The agent is Alder King.
Robert Hitchins, based at Boddington in Gloucestershire, is one of the leading property developers and investors in the South West and South Wales. It provides the full development process from site acquisition and planning through to development and investment.
