Construction of a second speculative warehouse unit development in the heart of the Midlands\u2019 golden logistics triangle has begun.<\/p>\n
The 103,300 sq ft unit at Siskin Parkway West, Middlemarch Business Park, Coventry, is being delivered by asset manager BlackRock and its development partner, Stoford.<\/p>\n
The scheme, dubbed Carbon 103, lies in close proximity to Carbon 207, a 207,340 sq ft, \u00a312m warehouse\/distribution unit also speculatively developed by the two companies and which recently reached practical completion.<\/p>\n
Benniman has been appointed as the main contractor for the construction of Carbon 103, which is expected to reach practical completion at the end of this year.<\/p>\n
Funded by BlackRock\u2019s UK Property Fund, the two developments would create hundreds of new jobs and bring further investment to the area.<\/p>\n
Stoford joint managing director Dan Gallagher said: \u201cHaving recently reached practical completion of Carbon 207, we are delighted to announce that we have now moved on to begin the construction of Carbon 103.<\/p>\n
\u201cCarbon 207 has generated a high level of interest from prospective occupiers which gave us the confidence to go on and speculatively develop Carbon 103.<\/p>\n
\u201cIt is well known that the demand for high quality warehouse and distribution accommodation in the West Midlands is outstripping supply, which is particularly constrained within the circa 100,000 sq ft size range. This new Grade A logistics space in one of the Midland\u2019s top locations will appeal to businesses across a broad spectrum.\u201d<\/p>\n
Middlemarch Business Park lies within the Midland\u2019s \u2018Golden Triangle\u2019, located adjacent to the A45 and Coventry Airport, and accessed via the recently upgraded Toll Bar junction. It is a well-located distribution park extending to more than 100 acres, with occupiers including Unipart, Volvo, Walkers Crisps, Gist and Parcelforce.<\/p>\n
Matt Wheeldon, director of BlackRock, said: \u201cWe have partnered successfully with Stoford on Carbon 207, and other projects, and are delighted to be delivering another high quality product to market whilst adding further prime real estate to our UK portfolio. The speculative development of good quality logistics space in prime, supply-constrained locations is one of BlackRock UK Property Fund\u2019s key strategies.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Development expected to appeal to a broad range of companies<\/p>\n","protected":false},"author":19,"featured_media":2006867,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"coauthors":[98],"class_list":["post-2006866","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property","tag-featured-story"],"yoast_head":"\n