Work on 46,000 sq ft speculative Birmingham warehouse to ‘start imminently’
Construction of a speculatively built 46,000 sq ft warehouse in Birmingham is to start imminently, an announcement that comes hot on the heels of a new report revealing the major shortage of industrial space in the region.
Barberry Developments has confirmed that work will start on site next month after the development gained planning consent from Birmingham City Council.
The self-contained facility, located on a 2.5 acre site on the A34 Walsall Road, 2.5 miles north of the city centre, is expected to reach practical completion in Q1 2018 with occupiers fit out available in Q4 this year.
Benniman has been appointed as main contractor to deliver the project.
The news follows a report from real estate advisers Colliers International, which says the availability of UK industrial space has fallen on average by 62% since 2009, with the West Midlands worst affected, dropping 72%.
In the West Midlands, there was enough space to sustain about 3.9 years worth of demand in 2009 but now there is enough for just 1.1 years at current take-up levels, the report said.
One of the factors for the squeeze on industrial space is a 27% demand from the manufacturing sector, as the favourable exchange rate continues to support external demand for British goods.
Jon Robinson, development director at West Midlands-based Barberry Developments, said: “We are extremely pleased to have received planning consent on this important development, and now look forward to its completion early next year.
“The shortage of new high quality warehouse premises within the region is well documented, we are sure it will attract a great deal of interest. We have had several enquiries from companies who have the capacity to create much-needed jobs and provide the area with a great boost.
“The prominent site is in close proximity to local population densities, is a short distance to the motorway networks and provides a great urban logistics location. It represents an attractive opportunity for any business looking to relocate, and buy or rent, within the West Midlands.”
JLL and MWRE are the retained property consultants for Barberry Developments.