Refurbishment for Wolverhampton logistics park 

By Liza Helps Property Editor Logistics Matters

THE PROPERTY investment and development company will rebrand and refurbish an 18-acre site at Spring Road in Ettingshall, which will be known as Waterway Business Park, which is available to let for the first time in more than 20 years.

Totalling 405,000 ft2 the property is currently let to Great Bear Distribution. Once refurbished the property is available as a whole or in units ranging in size from 51,000 to 154,000 ft2.

The units will undergo refurbishment including redecoration, additional dock level loading doors, new PV solar panels, and new roofs where required. Goold Estates is also planning to install new entrance gates, electric car charging points and CCTV, while improving circulation space on the estate and creating self-contained, secure yards for each unit. The scheme will target BREEAM ‘Very Good’ and the revamped units are expected to be available for occupation from October 2024.

An existing 83,000 sq ft unit already benefits from being temperature controlled and currently contains VNA racking.

Avison Young principal of industrial, sales and leasing David Willmer, said: “Our team is experiencing strong levels of enquiries for good quality warehousing/manufacturing accommodation in the area with limited stock currently available. Waterway Business Park will be ideally placed to satisfy this demand, offering high quality accommodation across a range of sizes in a well established location.”

Goold Estates purchased the Spring Road site in 2019 from London & Oriental Properties for an undisclosed sum in an off-market deal. It comprises seven separate units all let to Great Bear Distribution, part of Culina Logistics Group.

Letting agents are  Bulleys and Avison Young.