Peddimore logistics scheme reveals development partner

West Midland developer IM Properties has been selected to deliver one of the UK’s largest manufacturing and logistics sites.

The Coleshill-based company is Birmingham City Council’s preferred development partner for the first phase of the giant Peddimore scheme.

The announcement was made by the city council today (Wednesday) as part of its presentation to investors at the MIPIM property exhibition in Cannes.

Set to create up to 10,000 jobs and contribute £350m to the local economy, the city council said the collaboration was intended to create a world-class employment park, which had been designed to retain and attract regional, national and international occupiers.

The announcement follows a marketing and selection process that was launched at MIPIM in 2017 and has involved a procurement process which the council said was extremely competitive, with interest from major industrial developers both within the UK and overseas.

The city council said the Peddimore development reflected the emerging new approach it was taking to its property assets in order to drive value with an increased emphasis on quality, while t the same time abiding by the authority’s Social Value objectives.

Peddimore will be developed in two phases with IMP developing Phase 1 (37 hectares), leaving phase 2 in the council’s ownership. The retained land will be targeted at major manufacturing occupiers.

The scheme will include a new junction on the A38, utilities to service the whole development, and more than 45,000m² of new industrial floorspace within two years of the access being completed. All industrial units will target a minimum of BREEAM standard ‘excellent’.

In line with the city council’s objectives, IMP will be making a significant contribution to the local economy and its communities and as part of its commitment will support disadvantaged people into work, fund people onto the Building Birmingham Scholarship Programme and 50% of its spend will be with local suppliers and SME’s.

Birmingham City Council leader, Cllr Ian Ward said: “Peddimore will be a market leading development which will attract thousands of new jobs and significant new investment into the city.

“I am delighted with the outcome of the developer selection process, which reflects both the confidence in the city, and the strength of our industrial market. IM Properties have shown a clear commitment to work with the city council in partnership to deliver a high-quality development that achieves lasting benefits to the local community.”

Waheed Nazir, Birmingham City Council’s Corporate Director for Economy, said: “I am delighted that IM Properties have been confirmed as our development partner for Peddimore. The selection process has been extremely competitive and has attracted some very high-quality submissions. I look forward to working with the IM Properties’ team to deliver a flagship industrial scheme which will deliver a lasting legacy for the city.”

Tim Wooldridge managing director of IM Properties said: “Our successful selection underpins our commitment to the region and our aim to deliver outstanding, sustainable and innovative real estate with economic and environmental benefits for both businesses and the local communities we invest in.”

Kevin Ashfield, UK Development Director at IM Properties, said the Peddimore project would be IMP’s second collaboration with the city council, having delivered the new Wholesale Markets at The Hub to the north of the city, at the end of last year.

“We now look forward to working with the council again in creating what will be an exemplar development,” he said.