Developer announces plans for £26m Blythe Valley industrial scheme
West Midland developer IM Properties is to invest £26m in a scheme to create 209,000 sq ft of speculative new industrial space in the vibrant M42 corridor.
The Coleshill-based developer, which recently announced it was investing in the first spec-built offices on the M42 corridor for a decade, has followed this with the launch of Connexion, a campus of five industrial units ranging from 30,000 sq ft to 56,500 sq ft.
The units, at IMP’s Blythe Valley Park scheme, should be ready for occupation by the third quarter of next year.
Rachael Clarke, IMP’s development manager, said outline planning was gained in March and an application had now been submitted to Solihull Borough Council for full permission.
“The key reason for Blythe’s success is that it’s so well connected, hence the name Connexion,” she said.
“It is directly off junction 4 of the M42, providing good access to the M6 and M40, close to Solihull town centre, Birmingham Airport, the international train station and the new HS2 hub.
“There’s a dearth of premium industrial & logistics space in this area, and whilst we see our scheme attracting operators such as ‘last mile’ logistics, its high quality design and setting is such that it could also appeal to a variety of other business sectors; including creative and digital and ICT.”
The units will be finished in a distinctive black, anthracite and slate grey colour scheme.
The move is a direct response to the ongoing shortage of Grade A industrial stock within the M42 corridor.
Current speculation is that supply within the small to medium unit market is down to less than a year, threatening the long-term growth prospects for the area.
“By delivering five units in one phase at Connexion we aim to satisfy the demand,” added Ms Clarke.
Blythe Valley has already attracted big names such as Rybrook, Prologis and PKF Cooper Parry in the last six months.
“These latest units will give the park a truly mixed use feel with outline planning also granted for 750 homes, with the residential element bringing enhanced public transport links,” she said.
“Looking ahead, we believe Blythe dovetails into a new key driver in the manufacturing and logistics sector, with workforce wellbeing and access to amenities being key for attracting the right calibre of employee in an ever competitive marketplace.”
CBRE and Savills currently act as agents on BVP.
