Major industrial scheme snapped up by Tristan Capital Partners
St Francis Group and the Richardson family have announced the forward sale of its soon to be developed 400,000 sq ft multi-unit Spectrum Logistics Park development to Tristan Capital Partners.
Tristan Capital Partners have purchased the site and St Francis Group will continue to manage the development and will be responsible for delivering the completed units.
The scheme, which received full planning consent in February, will see the development of 400,000 sq. ft of new logistics/industrial space across eight units ranging in size from 25,000 sq ft to 70,000 sq ft.
Spectrum Logistics Park will be situated on the site of the former Pilkington Automotive and GKN Aerospace manufacturing plants in Kings Norton.
Demolition of the existing factory space will be undertaken by DSM with work on site scheduled to begin in May once the existing occupiers have moved out and the first units will be ready for occupation from September 2022.
St Francis Group Director Gareth Williams said: “Spectrum Logistics Park will achieve a standard of specification rarely seen within the industrial warehouse sector, based on the high-quality St Francis Group base build specification but enhanced again to meet excellent sustainable standards that will combine to exceed occupier expectations”.
“We are excited to deliver more high-quality space and a sale much earlier in the process than we expected is evidence of the funding markets appetite for well-located mid box units to meet a high level of occupier demand at this time.”
