Parkhill Estates launches £50m industrial site
Private landowner and remediation specialist, Parkhill Estates Limited, has announced a new industrial site, Iron Park, to be built in the West Midlands.
The 27-acre site in Moxley will initially accommodate a single 440,000 sq ft unit, with further potential for 30,000 sq ft trade counter to be delivered in further phases. It has a reported £50m gross development value.
The Iron Park development is set in the Midlands’ ‘golden triangle’, adjacent to the Black Country New Road and close to the M6 motorway.
The development, which is yet to go through the planning process, is being created in response to regional demand, which saw a record 6.5m sq ft of take-up recorded in 2017. It is hoped that a planning application for the first phase will be submitted by May 2018, with the potential for practical completion by October 2020.
JLL and Bromwich Hardy have been appointed as joint agents on the scheme.
Sam Cornes, chief executive of Parkhill Estates, said, “Bringing forward sites such as Iron Park are Parkhill’s bread and butter. The launch of Iron Park has been the culmination of several years’ hard work and extensive technical planning. It is gratifying to be able to deliver the land back to economic use and we look forward to bringing Iron Park forward.”