The Kayley Industrial Estate in Ashton-under-Lyne is set to be refurbished in a project costing £2 million, the Manchester Evening News reported last month.
According to the newspaper, the aim is to create a series of ‘modern’ industrial units to attract new businesses to the site and in the process create new jobs. Tameside planning committee welcomed the proposals when they approved them in November.
It’s hoped that by revamping the buildings on the industrial estate, around 42 new jobs will be created in the area.
As part of the project, AEW Core Property Fund has applied to demolish the existing single-storey building on Richmond Street and replace it with a “modern employment building” that will be divided into seven units.
Speaking to the planning committee, planning agent James Berggren, who is acting on behalf of the developer, said: “All the buildings are in need of redevelopment. The vacancy rates are high because of this.”
Mr Berggren added: “The proposal would create new, fit-for-purpose employment buildings which are well designed and in keeping with the area.”
If you have properties on an industrial estate it can be easy to overlook them in favour of other units in more commercially sensitive areas when you’re considering what work to carry out on your portfolio.
But if your buildings don’t look the part and aren’t maintained to a high standard, you will struggle to attract tenants. Investing in on site paint spraying might be something to consider in the new year if you have industrial units that need sprucing up.
One example of where this works well is at the Larsen Trade Park in Goole, Yorkshire. Here, occupancy is now at almost 75 per cent after the owners invested £4.5 million in refurbishing and redeveloping the estate to attract more local businesses, the Yorkshire Post reported.