One of the UK’s prime industrial development opportunities launched to the investor and developer markets this week (Wednesday 5th July), coinciding with the posting of the formal OJEU notice.
Perfectly located at the outer edge of the A38 industrial corridor to the east of Birmingham, the site is at the hub of the UK’s motorway network, close to the M42, M6 Toll and M6. It is also less than half an hour’s drive of the Birmingham International and East Midlands airports, making ‘Peddimore, Birmingham’ one of the country’s most strategically well-positioned and connected development opportunities to emerge in the last 5 years.
‘Peddimore, Birmingham’ offers the opportunity to bring forward up to 3m sq. ft. (c 251,000 sq. m on 71 ha) of outstanding market-leading manufacturing and logistics space, with access to a skilled workforce drawn from 2.6 million people living within just 40 minutes’ drive time.
Owned by Birmingham City Council (BCC), the much-anticipated development site is forecast to create up to 10,000 jobs, contributing £350 million to the local economy.
This unique development opportunity – one of the biggest of its kind – is now being actively marketed via the OJEU process to select a development partner to bring forward the site.
Expressions of interest from investors and developers are sought by the end of July, followed by a shortlisting and tender process, with an anticipated final selection by early 2018.
Birmingham City Council Leader Cllr John Clancy, said: “Our aim is to create a market-leading development opportunity for the city region, and to make this happen, we’re creating prime land for manufacturing and logistics uses. This will then act as catalyst for further growth in the region, ultimately creating even more jobs, and securing expansion opportunities for existing industry.”
Waheed Nazir, Birmingham City Council’s director for economy, added: “This is simply the best strategic development opportunity of its kind to come forward in many years. We’re therefore pleased to have begun the process of seeking a development partner at the top of its game to deliver our ambition of creating a major new industrial development at the centre of the UK.”
David Willmer, National Head of the Industrial and Logistics team at GVA, said: “We are thrilled to be advising Birmingham City Council on this outstanding development opportunity and are confident that it will attract the very best development partner to underwrite its success.”