Black Country speculative build attracts early interest
A 130,000 sq ft speculative-build industrial and warehousing scheme in the Black Country is attracting keen interest from potential tenants, the company behind the scheme has said.
The four-unit development, Prime Point, is situated on the existing Pensnett Estate in Kingswinford. Estate owner and property investor, LCP is developing the project in collaboration with the Black Country Local Enterprise Partnership.
A shortage of commercial property space in the area is the principal factor driving interest. The units can be split between 10,000 and 40,000 sq ft, maximising their marketability. Building work is earmarked for completion in November.
A launch event for the development held at Birmingham’s Opus restaurant attracted more than 50 property professionals from across the West Midlands.
Andrew Preston, LCP industrial portfolio manager, said: “It was great to see so many people at the official launch and the level of interest we have already had from potential occupiers is encouraging.”
Also represented at the event were Matt Tilt, director of industrial agency at LSH, and James Bird, associate at Bulleys, who have been appointed to market the site.
Those attending included Mick Lorkins, EZ Lead Officer of DY5, the new Dudley Business and Innovation Enterprise Zone, plus agents from property professionals such as Savills, BNP Paribas, Harris Lamb, and Cushman and Wakefield.
The Pensnett Estate is one of the largest secure business estates in Europe; home to 160 businesses it extends to more than 2.4 million sq ft.
Prime Point comes three years after LCP invested £1.5m in Progress Point, a speculative development on the estate comprising 21,000 sq ft of warehouse and industrial space.