Work set to begin on Black Country speculative warehouse scheme

WORK on the first stage of a major speculative industrial development in the Black Country will begin next week.

Prime Point forms part of the industrial and warehouse development at London & Cambridge Properties’ flagship Pensnett business estate in Kingswinford.

The new development is expected to be complete in November next year.

The four industrial units total 130,000 sq ft, with potential tenants being offered lets ranging in size between 10,000 sq ft and 40,000 sq ft.

Andrew Preston, LCP industrial portfolio manager, said: “Void levels on the estate are low and we are receiving enquiries every week from companies looking for units in this size range, so we believe that this first phase will be very popular with businesses looking to relocate to the area.

“This is a significant investment for LCP that will be a real boost for the local economy. We are excited that the first phase will be underway shortly and look forward to welcoming new tenants to The Pensnett Estate.”
 
The Pensnett Estate is one of the largest secure business estates in Europe, and home to 160 businesses in over 2.4 million sq ft of commercial property. Three years ago, LCP invested £1.5m in Progress Point, a speculative development on the estate comprising 21,000 sq ft of high quality warehouse and industrial space.

The Black Country Local Enterprise Partnership (BCLEP) has been supporting LCP with the latest development.
 
The contractor for the development is Telford-based McPhillips and LCP will be marketing the scheme.