A £20 million canal-side development of warehouse units in Birmingham has been officially unveiled to commercial property specialists.
Dozens of industrial property agents attended the official launch of the Wharfdale Park scheme of high specification build-to-suit warehouse and manufacturing units ranging in size from 30,000 sq ft up to a maximum of 150,000 sq ft, available on a leasehold basis.
The event, at the Fiddle & Bone pub at Sheepcote Street, Birmingham, took place as demolition contractors continued to make progress on clearing the development site in Tyseley. Old factory units are being demolished and the site cleared to make way for Wharfdale Park.
The Canal & River Trust’s site is being redeveloped by specialist developer H2O Urban LLP. Interest in the units has been high and agents are expected to announce the first pre-let occupier in the near future.
The Canal & River Trust has demonstrated its commitment to Tyseley and its confidence in the market by recently purchasing an adjoining £22 million industrial investment portfolio.
It is further investing in the area by redeveloping the Wharfdale Park site, which will create many new jobs, improve the environment and benefit local residents due to reduced noise and improved traffic measures.
James Lazarus, head of property development at the Canal & River Trust, said: “Birmingham is at the heart of the canal network and so it is very fitting that we are here today launching a canal-side development. It is another example of our very strong commitment to the city.”
Richard Thomas, of H2O Urban, said: “We are delighted to have been appointed as developer on this fantastic site. Like many cities, there is a severe shortage of Grade A industrial accommodation in Birmingham and we are therefore confident that Wharfdale Park will prove to be an extremely attractive option.”
H2O is a national joint venture company owned 50% by the Trust and 50% by private developer bloc Ltd. H2O Urban is working on a series of regeneration and redevelopment projects across the UK to maximise opportunities with the Canal & River Trust.
Harris Lamb and Colliers International have been appointed agents.