DEVELOPER Robert Hitchins has acquired a 25,000 sq ft warehouse in Stonehouse  for refurbishment.

The acquisition forms part of a deal with biotech company Greiner Bio-One to provide the  company with a new facility nearby. 

Robert Hitchins intends to refurbish the site at Unit 5, Brunel Way on the Stroudwater Business  Park and put it on the market either on a freehold or leasehold basis.

The Gloucestershire-based developer negotiated the purchase as part of a wider deal which also involved partnering with Greiner to develop a new purpose-built facility at the nearby  Stroudwater 13 Business Park.

The new facility enabled Greiner to double its warehouse capacity.

Refurbishment works on Unit 5 are currently under way and the building, which encompasses a car park and yard, will be available soon.

Michael Plimmer, senior development manager at Robert Hitchins, said: “We were delighted to be have been able to provide Greiner Bio-One with modern, state-of-the-art facilities, giving  them the platform to significantly grow their UK business and to stay in the local area. 

“By agreeing to acquire Unit 5 at the same time as constructing the new facility it also provided Greiner with cost certainty on their exit and enabled a seamless transition to the new facility.

“It was a great example of developer and occupier being pragmatic and working together in partnership to deliver an outcome that worked for both parties.

“We are delighted to have acquired Unit 5, there are not many buildings of this size available in the local area and we are confident that once refurbished it will appeal to both local and  national businesses wanting to set up in the area.

“At Robert Hitchins we have always been proud of our ability to work in partnership with businesses to deliver property solutions and this was no exception.”

Unit 5 in Brunel Way provides a modern warehouse with two-storey office accommodation with storage space on a self-contained plot just off the A419 close to J13 of the M5. The agent is Alder King.