Strong take-up of buildings has created a squeeze on the supply of land for new warehouse and industrial development throughout Worcestershire.
As a result, the only known site available for immediate develop-ment close to the M5 at Worcester is Area 7 - a mile from junction seven of the M5.
With phase one finished, - a new 92,500 sq ft headquarters and distribution building for Arrow Distributions - the next six-acre phase is now ready for development, according to joint land owners Alfred McAlpine and Hortons' Estate.
Bob Tattrie, regional director for Alfred McAlpine, says: "There is an extreme shortage of land for development within the Worcestershire area and the only sites that have any potential for future development are those that require redevelopment of existing sites and even these are in extreme short supply.
"The Area 7 site is preprepared and enables us to move forward with enquiries very rapidly and has therefore led to a great deal of interest from potential occupiers, many of whom are local businesses look-ing for future expansion within the Worcestershire area in order to protect their existing staff who work and live locally."
Lance Turner, of Harris Lamb's Worcester office - sole agent for Area 7 - is equally confident. "The lack of available development land for new warehouse and industrial develop-ment throughout the county is very restricted at the present
time," he says. "Area 7 offers a unique opportunity for a company to locate both close to Worcester with immediate access to the M5 corridor."
According to the agent, units ranging in size from 8,500 sq ft to 100,000 sq ft can be constructed on a fast-track basis, with leasehold deals from £5.75 per sq ft and freehold space going from £75 per sq ft. " We are talking to a number of potential occupiers and seeking further interest from interested parties before the detailed design is finalised," says Mr Turner.