Speculative industrial development two months ahead of schedule
A speculative industrial development in the Black Country – built to ease the chronic shortage of commercial space in the area – is likely to be ready for occupation two months ahead of schedule.
Investment and property management company LCP said roofs and cladding had already been completed on the first two buildings at Prime Point, paving the way for the first firms to take occupation next month (August).
Prime Point is a 130,000 sq ft development of four industrial and warehouse units on the Pensnett Estate, Kingswinford, LCP’s flagship industrial estate.
LCP said preparatory works to the floor and yard had also progressed well, while concrete works had begun on building one, with building two scheduled to start concrete works at the beginning of next month.
Andrew Preston, industrial portfolio manager of LCP, said: “We are pleased with progress and the contractors are well ahead of schedule, which is good news. The first two buildings are looking great and we have already being showing potential occupiers around.
“We are offering units of between 10,000 and 40,000 sq ft, of which there is a particular shortage, and we are working with our appointed agents, Bulleys and Lambert Smith Hampton, to attract new businesses to the area.”
Really Useful Products, which manufactures storage boxes for business and home, has already signed a deal to move to a 31,000 sq ft unit on part of Prime Point.
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 warehouse and industrial space.
The Black Country Local Enterprise Partnership (BCLEP) has been supporting LCP with the Prime Point development.
