A DERELICT former part of the Gregory’s Mill Industrial Estate is to be brought back to life thanks to a deal brokered by a Worcestershire estate agents.
The land and development team at estate agents Nicol & Co has brokered a deal to bring a redundant brownfield industrial site in Sunnyside Road back to life.
A private investment company has paid an undisclosed sum for the unconditional purchase of a half-acre site on the road which was part of the estate.
The original buildings have already been demolished and Nicol & Co is currently advising on the potential planning options available, which may include residential housing in keeping with the street.
Luke Alexander, senior land and development consultant, said: “This is the third deal we have brokered with the same client in the past 12 months.
“The purchasers are experienced and could immediately see the potential for redevelopment, and so were prepared to purchase unconditionally, at a value similar to a site with planning consent in place, so the vendor is equally happy.”
He said the deal pointed the way forward for the redevelopment of similar sites within the city.
“It can often be more straightforward to redevelop brownfield sites within the city of Worcester, rather than building in open countryside on the outskirts of towns and villages.
“Following demolition of the previous building this plot, sitting behind hoardings, on a residential street, has been an eyesore for some time.”
He added there was strong demand for similar sites in Worcestershire and beyond, and Nicol & Co is keen to hear from any landowner who requires advice on how to take a site forward.
Nicol & Co is Worcestershire’s leading independent estate agent and has offices in Droitwich, Worcester and Malvern.
Anyone selling, buying or renting in Worcestershire can find out more about Nicol & Co via @nicolandco on TikTok, @NicolandCo on Facebook and Twitter, and @nicolandco_estateagents on Instagram.
Visit www.nicolandco.co.uk for more.