THE first tenant has signed up to a multi-million pound speculative business development in Kingswinford.
Really Useful Products, which manufactures storage boxes for business and home, has agreed a 15-year lease for a unit at Prime Point, which is currently being built at The Pensnett Estate.
The agreement is a coup for estate owner LCP, which three years ago invested £1.5 million in building four industrial and warehouse units that are expected to be completed in September.
Andrew Preston, LCP industrial portfolio manager, said the development, which is supported by The Black Country Local Enterprise Partnership (LEP), was fulfilling a need for small-to-medium sized units in the area.
He said: “With building work progressing well, we are pleased to unveil the first tenant that will occupy a standalone building at Prime Point.
“We are pleased to be working closely with Really Useful Products to provide a modern warehouse unit that fits their business needs. We are also looking forward to signing up further tenants over the next few months.”
Mike Pickles, of Really Useful Products, added: “The move will enable us to improve our customer service and support, as well as provide our existing workforce with assurance of our commitment to growth. We hope to recruit up to 10 more employees once we settle in.”
The Pensnett Estate is one of the largest secure business estates in Europe and is home to 160 businesses in over 2.4 million sq ft of commercial property.