Brentwood Borough Council can confirm the sale of Childerditch Industrial Park.
The Childerditch Industrial Park in Warley covers an area of 42.75 acres and provides industrial and warehouse accommodation totalling 173,386 sq ft.
The Council originally acquired the site in February 2021 as a strategic asset, with the potential to explore use of the site as a possible suitable location for a new council depot. However, further investigation has concluded that the site does not meet the necessary requirements for such a facility.
The decision to sell the industrial park is in line with the Council’s developing Asset Management Strategy, which carefully assesses the best use of each asset, its value to the Council and how to maximise its benefit for the Brentwood community.
The sale was assisted by Joiner Cummings who were the council’s agent, with advice by Birketts Chelmsford Commercial Real Estate Team.
Councillor Gareth Barrett, Chair of the Assets, Projects & Strategy Committee at Brentwood Borough Council, said: “This sale will secure investment in the Childerditch site as the new buyers are in a position to take forward plans that will strengthen economic growth, job opportunities and deliver a sustainable future for existing and new businesses.
“Our priority in managing our local assets is delivering value for money for our residents. This transaction represents a strong investment return to Brentwood Borough Council in under four years.
“This sale also demonstrates the Council has invested prudently in assets where value is offered. We have worked hard to secure private-sector investment in our community, which has also returned value to the Council and secured a good return for local taxpayers.
“As we advance, we will maintain our carefully considered and sensitive asset management and investment approach. This will be focused on securing value for money for our residents and incentivising economic growth for our local businesses.”
Leader of Brentwood Borough Council, Councillor Barry Aspinell, added: “This asset sale shows we are unafraid to make the big decisions that deliver for Brentwood businesses and residents. Under my leadership, we are facing forwards, continuing to focus on the opportunities and investments that will benefit our Borough, all while safeguarding our community’s future.”