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ST. MODWEN WRAPS UP SALES AT REDDITCH SITE

Leading regeneration specialist St. Modwen has completed the final deal at its popular modern office development The Oaks in Redditch.

Homecare provider Caremark has purchased the long leasehold of a 1,292 sq ft unit at the Clews Road business park. It joins high profile tenants NHS, Hayward Wright Accountants and online management systems provider Handsam Ltd.

St. Modwen senior asset manager Julie Rossiter comments: “St. Modwen’s four units at The Oaks have been leased or sold on long leases. These are modern, self-contained office buildings with on-site car parking and a 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.