Work starts on 122,575 sq ft industrial warehouse
Site enabling works have now started for the construction of Staffordshire Pension Fund’s 122,575 sq ft industrial warehouse, Vernon 122, in Wolverhampton.
The unit, which has a practical completion date set for Q3 2023, will benefit from an eaves height of 15m, a 50m yard with additional HGV parking, separate car parking for 143 spaces with 16 EV charging points and HQ style offices.
Vernon Park currently comprises three units let to DHL, Mann & Hummel and J Banks. The development is adjacent to Junction 1 of the M54 motorway and the national motorway network and will benefit from the proposed link between the M54, M6, and M6 Toll.
Sam Robinson, director, industrial and logistics at Colliers, said: “Set within an already established development, Vernon 122 has been carefully considered to guarantee it has longevity, being constructed with sustainability as key part of the design and is based on market leading specification, which will ensure that it appeals to a variety of tenants.”
James Bird, partner, Bulleys Chartered Surveyors, added: “The area also has a strong labour pool, with over 550,000 people of working age based within a 30-minute drive time and approximately three million people living within a 20-mile radius of Wolverhampton. These insights, coupled with the shortage of industrial property availability will stand Vernon 122 in good stead to be well received by the occupier market.”
Colliers Global Investors is managing the development on behalf of the Pension Fund with Colliers and Bulleys acting as joint letting agents for Vernon 122.
