Leading Midlands commercial developer, Trebor Developments and funding partner, Kay Properties (Midlands) Limited, have exchanged contracts to purchase a 4 acre site located in a prominent position at Airfield Drive, Aldridge.
The partners propose to build a 55,000 sq ft speculative industrial unit on the site, which will be marketed as Airfield 55. LEP funding towards the development has been approved, representing the first Midlands scheme to receive Gap funding from the Black Country LEP.
A planning application for the development will be submitted shortly and work on site is due to commence in Spring 2017, allowing occupation by early 2018.
Bob Tattrie, Managing Partner for Trebor Developments, commented, on behalf of the partners, “We are delighted to be working with Kay Properties again on another exciting development in order to deliver much needed, quality, industrial, accommodation to the Midlands. It has taken over 12 months to secure grant funding, but will now allow speculative industrial development to proceed and deliver quality accommodation to meet strong occupier demand”.
Airfield 55 is being marketed by joint agents, BNP Paribas Birmingham office (Andrew Cosnett) and Burley Browne Birmingham office (Mark Fitzpatrick).