Former Rolls-Royce Factory on the Market as Office Space
A former Rolls-Royce factory in Wolverhampton has been placed on the market, which includes a 44,616 sq ft office property and a 5,000 sq ft industrial building.
Both of the historical properties are situated around a central courtyard, and the site was formerly home to the components division of Rolls-Royce Nuclear Engineering. The site was closed in 2003 with the loss of almost 100 jobs, and since then the property has been rented out as office space.
Agents Jones Lang LaSalle are marketing the property, and online news reports suggest that a six-figure sum is expected.
“There isn’t really a value that we can put on the building,” said associate director Simon Dicken, according to the expressandstar.com. “It’s a historic site because of its past with Rolls-Royce.”
Interestingly, former MP Dennis Turner believes that the site would be better put to use by remaining in production.
“It would have been much better to see that site continue to produce goods for our country,” he said. “It makes one despair to think of the many thousands of manufacturing jobs that we have lost in the Black Country.
“I hope that it is not inevitable that the site will end up used for stock holding or as a warehouse, as so many former factories tend to end up.”
At officebroker.com we are fully aware of the benefits that an office property can bring to the local community ΓÇô especially former mill buildings which are particularly popular in the serviced office industry.
Any property that is converted for use as office space brings with it vital space for businesses of all sizes, combined with employment for individuals and suppliers in a variety of trades, from interior fit-out and furnishers, to front of house staff and cleaning agencies.
Space within large buildings is also often occupied by business centres, which take up any number of floors and lease them out as serviced space to small businesses. This allows smaller firms to rent space on easy flexible terms, and provides a foothold to help them to build and grow their business, which ultimately allows said firms to employ further suppliers and generate new businesses for the local region, and wider economy.