Award winning developer IM Properties has completed its Solihull Business Park development just 18 months after acquiring the site, with all units let, sold or under offer prior to completion of construction work.
The 54,000 sq ft unit on Plot 1 is the last of the three industrial and logistics buildings developed by IM Properties on the Park and has been let to global marketing company Innerworkings Limited on a 10 year lease.
The deal to Innerworkings follows the letting of a new 30,000 sq ft manufacturing facility to V Installations on Plot 3 and the successful completion of the brand new 50,000 sq ft Customer Delivery Hub for John Lewis Partnership on Plot 2.
Lewis Payne, Development Director at IM Properties, said: “The letting and sale of all three of these units within 18 months of our acquisition of Solihull Business Park is a clear demonstration of rising demand within the industrial sector for high quality space delivered in an accessible prime location.
“The letting of this final unit marks the end of a very successful scheme for IM Properties, set in motion by the John Lewis Customer Delivery Hub – a first of its kind project for the company – which was a catalyst for the scheme and provided a great vote of confidence in the Park as a prime distribution location. The strength of market demand in this area set against the lack of supply has helped us to achieve strong rents on the scheme.
“We are delighted to welcome Innerworkings to the Park and wish them every success in their new home. The quality of the building combined with the excellent location of Solihull Business Park should give Innerworkings an excellent base from which to serve customers in the UK and abroad.”
Innerworkings Limited is a global marketing execution company which offers creative services to take companies from an initial idea to a cohesive brand.
IM Properties was represented by Savills and GVA, while Innerworkings was represented by CBRE.