Property News Hatrick of deals for Colliers International

Deal done at Cortex

Xylem Developments, the development company owned by Robert Birch and Tony Milner, has completed its first deal at its Cortex development at Hartlebury Trading Estate, near Kidderminster.

Anderman & Company has contracted to purchase a unit of 8,060 sq ft and will relocate its entire Midlands operation to Cortex later this year to form the new company headquarters. It also has an option to acquire a further unit of 5,590 sq ft.

Anderman operates two businesses, which focus on the distribution of industrial ceramic products and specialist engineering support services for high voltage electricity substations. The company has established operations in the USA and France.

Thomas Vale Construction is on site and the first phase of the project is expected to complete in August 2011. The remaining units range from 5,140 sq ft to 20,000 sq ft and are available for sale. Simon Norton at Colliers International and Andrew Cosnett at King Sturge, both in Birmingham, are acting jointly for the developer.

Robert Birch, director of Xylem Developments, said: “Cortex responds to the apparent demand for good quality, small and medium sized freehold units. There is very little freehold stock, of a standard, available at a reasonable price in this part of the world and we are delighted that Anderman has chosen to relocate its expanding business to Cortex. We are convinced that this will act as a catalyst for further deals as the project moves forward.”

Simon Norton, director in Colliers International’s Logistics & Industrial team, based in Birmingham, advised Xylem Developments on the deal. He said: “This deal is an important milestone for Cortex.

It is the only scheme on Hartlebury Trading Estate that offers occupiers the opportunity to buy their own units and, as such, we expect demand for the remaining units to be high.”

Cortex is a B1/B2/B8 development comprising a total of up to eight units with a total floor area of 56,560 sq ft. It is situated at the junction of Maple Drive/Oak Drive at the heart of Hartlebury Trading Estate, which is on the A449 between Worcester and Kidderminster (about 10 miles north of j.5 of the M5). The scheme is being delivered by Xylem Developments by way of a joint venture with the landowner, Bristol Road Properties.