Contractor appointed to 121,000 sq ft speculative scheme
Midlands-based construction contractor MCS Group has won a £7.4m contract to deliver a 121,175 sq ft warehouse/industrial unit being speculatively developed in the Black Country.
Property developer Opus Land has appointed MCS Group to build the XPANSE 120 development at Seven Stars Road in Oldbury, near West Bromwich.
Construction is expected to start this month with practical completion in Q2 2020. The unit will benefit from 10% office content at first and second floors, 125 parking spaces, lorry parking and an oversized and secure yard.
Opus Land and Palmer Capital have acquired a rare site of scale in the West Midlands, comprising 6.35 acres in an established industrial location, just off Junction 2 of the M5.
The site has been acquired with vacant possession and is funded by Palmer Capital Development Fund IV, a venture managed by Palmer Capital that is exclusive to clients of CBRE Global Investment Partners (CBRE GIP).
Keir Edmonds, managing director of MCS Group, said: “This is another impressive development from Opus Land and we are of course delighted to be involved. We’ve already worked very successfully with the company on several major projects, including three large warehouse units in Cannock.
“The development at Oldbury will deliver a Grade A warehouse unit in an extremely convenient location, near junction 2 of the M5 and not far from the M6. There is a severe shortage of high quality stock across the West Midlands, so I am confident there will be many companies interested in this new Opus Land development.”
Tom Halcarz, head of construction consultancy at Opus Land, said: “We are delivering a high quality warehouse unit at this fantastic site in Oldbury and MCS Group were the ideal choice as construction partners in the project.
“There is a huge requirement for industrial accommodation in the heart of the Black Country. We will start construction speculatively very soon, with completion due in Spring 2020, knowing that units of this size and location are in very high demand. We will offer a rare, flexible approach to occupiers seeking either freehold or leasehold options in new-build Grade A facilities.”
The project will also receive funding from the West Midlands Combined Authority’s (WMCA’s) Collective Investment Fund (CIF), a commercial development war-chest designed to stimulate jobs, opportunity and growth in the region.
