A large industrial unit at a major commercial development in Stonehouse has been sold for more than £3.7 million by leading Gloucestershire property developer, Robert Hitchins Ltd.
The sale of Unit 1 at Hitchens' Stroudwater 13 development brings the £12 million first phase of the scheme to competition, this February 2025.
The 22,523 sq ft unit, currently home to audio equipment firm Loudspeaker Technology Limited on a 10-year lease, has been purchased by UK-based private investor Rushmire Ltd.
Built speculatively by Robert Hitchins in 2023, the facility is located on a self-contained, 1.4 acre site at the entrance to Stroudwater 13, next to Stroudwater Business Park.
The first phase of the development has also included the relocation of pharmaceutical company Greiner Bio-One from existing premises in Stonehouse into a new multi-million pound, 53,500 sq ft UK headquarters at the site in 2023.
The business park also forms part of the employment allocation for Robert Hitchins’ wider Great Oldbury urban extension at Stonehouse, which also includes 1,300 homes, a primary school, local centre and sports and community facilities.
Senior development manager at Robert Hitchins, Mike Plimmer, said: 'This is a fantastic milestone to reach and a testament to the great occupier and investment interest in new-build industrial warehousing in the area.
'Unit 1 is a highly-prominent, modern and sustainable building let to a strong regional company with international reach on a long-term lease which is a great investment product and we are delighted with the off-market sale to Rushmire Ltd.
'It’s been a fantastic effort by the whole team to bring forward this investment in Stonehouse from inception through land acquisition, planning, development, letting agreements and sale.'
