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ST. MODWEN WRAPS UP SALES AT REDDITCH SITE

Leading regeneration specialist St. Modwen has completed more deals on its popular modern office development The Oaks in Redditch, including the purchase of a long leasehold interest by home care provider Caremark.

St. Modwen has successfully completed deals on four units to high profile tenants NHS, Caremark, Hayward Wright Acountants and online management systems provider Handsam Ltd.

St. Modwen senior asset manager Julie Rossiter is pleased at what has been achieved at The Oaks: “St. Modwen’s four units have been leased or sold on long leases. These are modern, self-contained office buildings with on-site car parking and a most convenient position adjacent to the Alcester Highway. We have an ongoing programme of proactive estate management to ensure that the development continues to attract and serve its occupiers and remains competitive in the marketplace; I believe our sales to this high calibre of occupiers are illustrative of this.”

Agent Victoria Burnett of JLL represented St. Modwen in securing these deals, she said: “Many of the occupiers have been looking for new premises that fit with their ongoing business plans of expansion and growth. In a cautious marketplace following the economic turbulence, many occupiers are seeking high quality office space but prioritising flexibility in their tenancy agreement and security of leasing direct from a developer landlord.”

Located on Clews Road, the St. Modwen-developed business park boasts a prime location adjacent to the Alcester Highway (A441) and Coldfield Drive, just two miles from Redditch town centre and five minutes from Junction 2 the M42, giving excellent access to motorway network.