£12m logistics hub reaches completion
A £12m warehouse/distribution hub in the heart of the Midlands’ golden logistics triangle has reached practical completion.
The 207,340 sq ft unit, which could sustain dozens of jobs, has been speculatively developed by asset manager BlackRock and its development manager, commercial property developer Stoford.
The unit, known as Carbon 207, has been funded by BlackRock’s UK Property Fund and is situated at Siskin Drive, Middlemarch Business Park, Coventry.
Stoford joint managing director Dan Gallagher said: “We are delighted to announce that this important development has now reached practical completion.
“The demand for high quality warehouse and distribution accommodation in the West Midlands is such that we have great confidence in the market and we are therefore expecting high levels of occupier interest. Given the shortage of new Grade A logistics space and the number of firms looking to relocate to the region, we expect to be able to confirm an occupier in the near future.”
Other occupiers at the Middlemarch Business Park include Unipart, Volvo, Walkers Crisps, Gist and Parcelforce.
Matthew Wheeldon, director of BlackRock, said: “The speculative development of good quality logistics space in prime, supply-constrained locations is one of BlackRock UK Property Fund’s key strategies and having partnered successfully with Stoford, we’re delighted to be delivering a quality product to market whilst adding another prime piece of real estate to our UK portfolio.”
Construction is also now underway on a second speculative development by the Stoford BlackRock team close by at Siskin Parkway West, called Carbon 103 and is expected to reach practical completion at the end of this year.
Pictured from left: Matthew Wheeldon, director of BlackRock, Dan Gallagher, joint managing director of Stoford, and Stoford project manager Alan Stewart.
