One of Birmingham’s largest vacant industrial sites has become a vibrant mixed-use development thanks to the vision of Opus Land. The Midlands-based developer completes two further design and build projects on its Opus Aspect site at Erdington this month with a combined value in excess of £9 million.
Paul Rigby Volvo takes possession of its 13,240 sq ft dealership – an expansion from previous accommodation in Aston. Pre-let on a 17-year term with a yearly rental of over £174,000, the new £2.5 million facility will offer customers a range of amenities including fully equipped workshops and a climate controlled display area.
Managing Director, Paul Rigby said: “We are delighted with the design and build of this dealership which is a first for Volvo and takes the brand to a new level in terms of both space and capacity. From an aesthetic point of view, we have a premier player facility which is both pleasing to the eye and practical in its application, and with eleven bays, we have doubled our service and maintenance resource at the same time.”
In the same week, Opus hands over West Midlands Ambulance Service’s £2 million purpose-built, vehicle preparation and maintenance centre. A 17,700 sq ft hub providing a 24/7 operation, the facility will ensure that the city’s ambulance fleet is functioning at optimal capacity. Also pre-let on a 20-year lease with five yearly rent reviews, the ‘Make Ready’ station will be manned by a dedicated team of Ambulance Fleet Assistants in-situ.
Fronting the Chester Road close to junction 6 of M6, Opus Aspect has been transformed into a hive of activity with a hat trick of deals since being acquired as a redundant site by Opus some three years ago.
Says Gareth Williams, Opus Land Development Director: “Our first deal with Selco Trade Centres in 2010 for a 37,738 sq ft purpose-built, warehouse – pre-let, completed and sold within a year – set the trend at Opus Aspect, and has stimulated interest ever since both regionally and nationally.
“With just three acres remaining for occupier led development, we are looking forward to completing the dynamic mix of operators at this strategic location.”
Opus Aspect is being developed with support from the Palmer Capital Development Fund – an arrangement that enables Opus to respond to demand both quickly and seamlessly. With no need for third party equity or debt, the Opus team is uniquely placed to offer certainty and to move expediently.
The West Midlands Ambulance Service unit has been sold to a syndicated fund managed by Custodian Capital. The necessary finance was raised in less than three weeks – a record for the fund and testimony to the market demand for such opportunities.
The Volvo facility is also under offer to a major fund.
Joint letting agents are GVA and Jones Lang Lassalle.