Chase Commercial has acquired four Midlands development sites - totalling 16.43 acres - for around £5 million.
The Stratford-upon-Avon based company, a division of property development and construction group Chase Midland, yesterday said that the first of the sites - called Pioneer - comprises 4.2 acres at Bromsgrove Technology Park.
It has been acquired from PXP, a recently formed joint venture between regional development agency Advantage West Midlands and Langtree.
Bromsgrove District Council has granted plans for Chase to build 18 business/light industrial units totalling 75,240 sq ft. Atis Real and Phoenix Beard are acting for Chase Commercial, whilst PXP was represented by Thomas Lister.
Julian Meredith, development director, Chase Commercial, said: "In developing this site, not only are we intending to satisfy the strong demand for smaller business units in this area but we aim to further cement Bromsgrove's reputation as the hub of the technology corridor, and allow smaller companies to make a real stake in the town's property market."
In a joint venture with Birmingham-based Hortons' Estate, Chase has also clinched the purchase of a four acre industrial site in Tewkesbury from AXA Sun Life. Planning has recently been submitted for a single unit of 71,000 sq ft to be built on the site, which is situated at Ashchurch Parkway, close to junction 9 of the M5. Atis Real acted for Chase/Hortons whilst Alder King acted for AXA.
Meanwhile, the remaining land has been acquired at sites in Leicestershire.
The first is Westminster 42 - situated at Westminster Industrial Estate, Measham. The 6.2-acre site was acquired from Leicestershire County Council.
Chase has already secured planning consent for two industrial units of 59,710 sq ft and 30,958 sq ft. Gerald Eve and Atis Real acted for Chase Commercial.
The second site, called Progress Point, is 1.75 acres in size and forms part of the Ashton Business Park in Leicester, an area specifically designed to target businesses relocating out of the city centre regeneration areas.
On this land, Chase is working with English Partnerships and the Leicester Regeneration Company, to build a series of small industrial units, totalling 25,500 sq ft. Lambert Smith Hampton act on behalf of Chase Commercial.
All the sites are available on a freehold and leasehold basis with building work expected to be completed towards the end of the year.