IM Properties is to undertake its third and final phase of speculative development at the Hub, Birmingham where it will develop three units totaling 152,000 sq ft.
Local contractor Benniman is partnering with IMP’s in-house project delivery team to build the 100,000 sq ft warehouse, alongside two smaller units of 30,000 sq ft and 22,000 sq ft, targeting local and regional companies needing easy access to the city.
The Hub, which is just three miles from the centre, has been a real success story for IMP, making its mark as home to the new Wholesale Markets, built by IMP for Birmingham City Council and the location of the first Electricity Cost Neutral logistics building in the UK, let to Argos on-line.
The final phase of the 90-acre site, will mean IMP has delivered close to 900,000 sq ft of Grade A space designed for logistics, distribution and manufacturing occupiers including Iron Mountain, TIMET and TNT.
Richard Lawrence, IMP’s development director said: “We acquired this site in June 2013 and have benefited from it being a first class employment site, close to the city centre, ideal for last mile delivery, but also as a prestigious location for companies to be located and expand their operations.
“This month we will be breaking ground on a 250,000 sq ft prelet to Birmingham-based home-wares specialist KitchenCraft. Whilst in the main we’ve been delivering larger warehouses, we are particularly pleased to now be offering two smaller units to help small to medium-sized companies prosper in the region.
Richard added: “The conclusion of The Hub is well timed, as IM Properties gets set to partner with Birmingham City Council to deliver the first phase of one of the UK’s largest employment sites at Peddimore.
“Here we will also be looking to enhance the local economy and create the opportunity to retain and attract both local, wider Midlands and national and international occupiers.”
CBRE, Knight Frank and Savills are joint agents for The Hub.
IMP is one the largest privately owned property companies in the UK, rooted mainly in the Midlands, with an investment and development portfolio of c£900 million across the UK, Europe and the US.