National commercial property and construction consultancy Naismiths will play its part in the rebirth of a landmark former factory site in Birmingham.
It has been instructed by Finance Birmingham to provide funder due diligence services on the project which will see the development of a 46,000 sq ft industrial unit on site of the old Tucker Fasteners factory, which stood at Walsall Road, Perry Barr.
Barberry Developments has purchased the 2.5 acre site. Construction of the new unit is expected to reach completion later this year. It is estimated that the development will create around 75 jobs.
Tucker Fasteners had been at the Walsall Road site since 1903, but closed four years ago. It had produced rivets, fasteners and other metal products, as well as building fighter planes during World War II.
The £5.5 million development has been backed by £2.9 million of loan funding provided by the West Midlands Combined Authority (WMCA).
Marcus Higgins, director at Naismiths in Birmingham, said: “We are extremely proud to have been appointed by Finance Birmingham to play a key role in delivering this development, which is sure to provide a great boost for this area of Birmingham.”
The CIF is managed by Finance Birmingham, providing short-term loans to private sector developers to help accelerate speculative construction schemes.
Jon Robinson, development director of Barberry, said: “This will be a huge boost to the mid-sized industrial and warehouse sector, and to the Birmingham area too. When complete, it will provide occupiers and businesses with top quality accommodation which is needed to enable expansions, or encouraging businesses from further afield to relocate to the West Midlands.”
The brownfield site occupies a prominent location on the A34 and is within minutes of Birmingham city centre, and the M6 motorway.
Nick Oakley, senior investment director at Finance Birmingham, said: “We are sure this will further enhance our city, and potentially attract inward investment. It is a pleasure to be working with a well established developer, and to continue our excellent relationship with Naismiths”