Historic property acquisition for local brothers

Harvey Pearson and Mark Stewardson outside Imperial Works

Two Black Country-based brothers are investing over £1m to transform an historical 17-unit, multi-let industrial estate, in a bid to support local businesses and jobs in the West Midlands.

Phil and Mark Stewardson of local property developers Stewardson Developments have completed the purchase of Imperial Works in Stourbridge and now plan to invest over £200,000 to renovate the 2.1-acre estate.

Planned improvements to the 34,000 sq ft site include improved security, increased parking provision for staff and visitors and measures to make the estate more energy efficient, as well as the general improvement of all 17 multi-use units.

The site, which was the former Sargeant Turner & Sons Ltd plant, where buckets and dustbins were manufactured, had previously been owned by the same family for more than 100 years. Mark Stewardson, Director of Stewardson Developments, said:

“We are delighted to acquire this prominent site and cannot wait to get to work on refurbishing and redeveloping the site.

“We are committed to expanding the retail and industrial element of our portfolio and are currently in discussions with several local business owners looking to retire and who wish to dispose of their premises, as well as others who want to cut costs by selling and leasing back their premises.”

Stewardson Developments will be working alongside Hexagon Commercial Property, who will manage the estate. Harvey Pearson, Director of Hexagon Commercial Property, said:

“We were delighted to discreetly dispose of Imperial Works to Stewardson Developments, which further demonstrates their commitment to investing in the Black Country.

“Hexagon are very excited at the prospect of managing the estate and will be working closely with the new landlords to extract underlying value whilst undertaking a schedule of significant refurbishment works.”

Stewardson Developments was established in 1996 and has a portfolio of residential and commercial properties available to rent across the West Midlands. In 2015 the business also acquired Jennings & Gilchreaste Ltd, which operates a rapidly growing property portfolio across Lancashire and the North West.


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