Planners approve 345,000 sq ft logistics scheme
PLANS for a 345,400 sq ft warehouse in Warwickshire have been approved as developers stand ready to bring the site to life.
Core 1 is part of the Core 42 distribution hub, next to Birch Coppice Business Park and close to junction 10 of the M42 motorway.
The logistics scheme has been given unanimous approval by North Warwickshire Borough Council’s planning and development board.
Edward Hodgetts, development director at Hodgetts Estates, said: “Despite the recent market turmoil, post-Brexit deals and market enquiries suggest that the demand for Grade A units of 300,000-350,000 sq ft is still very strong in prime locations such as Core 42.
“We have pushed ahead with the site infrastructure, meaning that the Core 1 bigbox unit is deliverable as early as July 2017.”
The 43-acre Core 42 Business Park is located within the so-called Golden Triangle of the M6, M1 and M42. Once fully developed, Core 42 will have a total end value of more than £70m.
In addition to Core 1, the site can accommodate another 334,000 sq ft, with units ranging from 70,000 sq ft to 270,000 sq ft.
Simon Neate, chairman of Indigo Planning, which advised Hodgetts Estates, said: “Core 42 itself is a strategic site, well-placed for occupiers to take full advantage of the nearby Birmingham Intermodal Freight Terminal as well as the national motorway and rail freight network – the decision to start infrastructure works speculatively has been driven by these factors and strong occupier demand to pre-let these units as they come forward is anticipated.”
