Developer Chancerygate has started construction on a 72,007 sq ft industrial development called Forge Industrial Park in Minworth, Sutton Coldfield.
Located on Forge Lane, the industrial and trade counter park will comprise 11 high-quality units ranging from 4,466 sq ft to 12,701 sq ft.
The scheme has a gross development value of £11.1m, with units available on both a leasehold and freehold basis. Chancerygate has already concluded a deal to pre-sell the largest unit on the estate.
The units at Forge Industrial Park will be built by Tamworth-based Quantum Construction after the contractor won a competitive tendering process for the contract worth £4.6m.
Initial site works on the 3.13-acre site completed this February after the demolition of a 69,000 sq ft industrial building. Practical completion of the development is scheduled for November this year.
Located just eight miles north east of Birmingham city centre, the scheme offers easy access to the A38 dual carriageway which links to junction 5 and junction 6 of the M6.
Chancerygate development director and head of the company’s Birmingham office, Mark Garrity, said: “We’re very pleased to see construction work start on site at Forge Industrial Park. The area is very well established in the trade and industrial market, which made it ideally suited for our speculative development model.
“The development is already receiving a great deal of interest from prospective occupiers and we are looking forward to successfully delivering Forge Industrial Park in partnership with Quantum Construction. Once built, the development will provide a fantastic home for businesses across the region looking for Grade-A industrial space.”
Founded in 1995, Chancerygate is the UK’s largest multi-unit industrial developer and asset manager and the only one operating nationwide.
The company currently has up to three million sq ft of industrial space under construction or ready for development across 23 sites ranging from Bournemouth to Edinburgh. In addition to Birmingham, Chancerygate also has offices in London, Milton Keynes and Warrington.
Quantum Construction director, Matt Gallagher, said: “We are excited to have secured the opportunity to work with Chancerygate, and their team, on this project.
“The high-quality scheme will undoubtably be popular in the area and we look forward to delivering a successful project.”
Joint agents on the Forge Industrial Park are Knight Frank and Gerald Eve.