Plans for 120,000 sq ft industrial unit move forward

Palmer Capital and its development partner Opus Land have been awarded resolution to grant planning permission for a 120,000 sq ft industrial unit at Oldbury.

Palmer Capital and Opus Land have agreed to acquire the site, subject to planning, with the purpose of speculatively building a modern warehouse/production facility with funding through Palmer Capital Development Fund IV, a venture managed exclusively on behalf of clients of CBRE Global Investment Partners.

The site at Seven Stars Road is situated in one of the Midlands’ primary distribution and warehousing locations and is home to some of the region’s most established business parks.

Opus Land said the speculative nature of the scheme highlights “continued confidence in the strength of the Midlands economy”.

Tom Edgar of Opus Land said: “We are delighted that Sandwell Metropolitan Borough Council’s planning committee have shown such enthusiasm for the scheme, and that they have the confidence in Opus Land to deliver the proposed plans.

“We are committed to be on site as soon as possible, and aim to deliver this scheme by the end of Q1 2020. The Midlands is at the centre of the UK’s industrial market, and we believe that this scheme is reflective of the continued confidence in the local economy despite the uncertainty in the UK currently.”

JLL and Lambert Smith Hampton are the agents for the site.