Leading commercial property investment company LCP has appointed two West Midlands property agencies to help attract businesses to its multi-million pound speculative development.
LCP is building Prime Point, a 130,000 sq ft development of four industrial and warehouse units, on a site at its flagship Pensnett Estate business estate in the Black Country.
With building now well under way, it has appointed West Midlands commercial property specialist Bulleys and national commercial property consultancy Lambert Smith Hampton (LSH) to jointly market the development.
Andrew Preston, LCP’s industrial portfolio manager, said: “This is a major investment and we are keen to ensure that businesses from as far afield as possible are made aware of the potential to relocate or open a new base here in the Black Country. Both LSH and Bulleys have exceptional contacts in the UK across a wide range of sectors, which will help yield high-calibre tenants that are looking for first-class premises in an area that has excellent road and motorway links.”
Matt Tilt, director of LSH Birmingham’s industrial and agency team, said: “Prime Point will be a superb addition to the Pensnett Estate and we’re looking forward to working with LCP to help bring businesses here. We’ll be using our extensive networks in the industrial and logistics sectors to market this much-needed facility.”
Noel Muscutt, partner at Bulleys, added: “LCP is bringing Prime Point to the market at an important time when there is an extreme lack of quality industrial units available for occupiers. Bulleys is excited to be working with LCP on this prestigious scheme.”
Potential tenants at Prime Point can take units between 10,000 and 40,000 sq ft. Completion is expected in November 2017.
The Pensnett Estate is one of the largest secure business estates in Europe, and home to 160 businesses in over 2.4 million sq ft of commercial property. Three years ago, LCP invested £1.5 million in Progress Point, a speculative development on the estate comprising 21,000 sq ft of high quality warehouse and industrial space.
The Black Country Local Enterprise Partnership (BCLEP) has been supporting LCP with this latest development.