Trebor Developments and Schroder Real Estate Investment Management Limited (Schroders) have submitted a detailed planning application for a four-unit industrial development at Steelpark Way in Wolverhampton.
The planning application includes the development of four mid-box industrial units from 25,000 to 84,000 sq ft to meet the needs of either distribution or manufacturing occupiers. The development is being marketed as “Revolution Park” and will continue to be offered to occupiers on a build-to-suit basis up to 200,000 sq ft, however the planning application allows for a fast-track delivery of units.
Greg Dalton, Development Manager for Trebor, commented:
“We are delighted to be working with Schroders to bring forward this major redevelopment in an area which continues to see very strong occupier demand. The aim is to create best in class assets to sit within Schroders portfolio with units being constructed to both BREEAM1 “Excellent” and net zero standard. We have already seen a fantastic response since the site’s formal launch.”
Philip Scott, Investment Manager for Schroders, said:
“Revolution Park will be one of the greenest assets within Schroders’ industrial portfolio and the redevelopment at Steelpark Way will help to futureproof the site by delivering high quality, environmentally friendly, lower cost buildings for tenants.”
The new units will also offer much needed new build, high quality space in the established industrial location east of Wolverhampton to accommodate for new occupier requirements.
Councillor Stephen Simkins, City of Wolverhampton Council Deputy Leader and Cabinet Member for City Economy, commented:
“The plans for the redevelopment at Steelpark Way are aimed at delivering major industrial units in our city which will in turn create new jobs and opportunities. It shows investment in Wolverhampton remains strong and that is critical to our recovery from the Covid-19 pandemic and relighting our city.”
Revolution Park is being jointly marketed by Gerald Eve LLP and Bulleys on behalf of Trebor and Schroders.
John Sambrooks of Gerald Eve added on behalf of the joint agents:
“This new development is being delivered at a critical time in the market where demand is outstripping supply for new industrial/logistics space. We are delighted with the early response from occupiers, particularly those looking to acquire new buildings which meet the highest environmental standards ensuring the best working environment for their employees and customers.”