Barwood Capital, the Northampton-based real estate investment and development business, and First Industrial, the Warwick-based specialist industrial real estate development company, are to speculatively build a 100,075 sq ft (9,296 sq m) industrial warehouse unit in Birmingham having received planning approval by Birmingham City Council.
Birmingham 100 will be built on a 5.72 acre site on Walsall Road just north of Birmingham City Centre, that fronts the A34 and is just six minutes drive from junction 6 of the M6. It will comprise a warehouse and two storey fully fitted offices capable of accommodating up to 130 people, 47 HGV trailer parking spaces and 95 car parking spaces. It will be completed by Q3 2017 and available for sale at £11.5 million or to rent at £6.50 per sq ft. It will be suitable for industrial storage and distribution, wholesale, cash and carry or trade counter uses.
Barwood Capital’s 2015 Property Fund, in partnership with First Industrial, which will act as the site’s development manager, secured the site in October 2016.
Edward Henson, director, Barwood Capital said: “Having now secured planning consent for Birmingham 100 our intention is to speculatively construct this single unit in a market and location where there is very little supply of newly constructed warehouse accommodation, strong demand for such space, and a large workforce catchment with nearly three million employees living within 40 minutes’ drive.”
Oliver Bertram, development director, First Industrial said: “Birmingham 100 offers an ideal opportunity for Midland’s based businesses looking to expand or national companies looking for a highly prominent building in an urban location, yet moments from the motorway network.”
JLL, CBRE and Burbage Realty are the retained property consultancies for Birmingham 100.