Construction has started on Prime Park, a development of more than 70,000 sq ft of energy-efficient warehouse and trade counter space in Birmingham.
Legal & General Investment Management’s specialist industrial fund IPIF and development partner Prime Box are delivering the development on a 3.4-acre brownfield site off Hamstead Hill, just four miles north of Birmingham City Centre, with completion set for spring 2024.
Located next to a new Lidl superstore, the scheme will comprise 10 units ranging from 1,690 sq ft to 28,416 sq ft.
Several of the units have already been pre-let/under offer to occupiers including self-storage operator SureStore, which has taken the largest single 17,229 sq ft building, with Greggs bakery taking the smallest unit (1,690 sq ft) at the front of the estate.
Kenny Allan, of Birmingham property agency KWB, is joint letting agent for the development with Mark Fitzpatrick of Johnson Fellows.
Richard Lord, of Prime Box, said: “I’m thrilled to see construction get underway on this scheme which will offer high-spec sustainable buildings on a disused former factory site.
“We have prioritised energy efficiency to minimise environmental impact and appeal to occupiers, their employees and customers alike, who are putting more and more focus on sustainability.”
Allan added: “The fact that several of the units were pre-let/under offer pre-construction suggest that the remaining units won’t be available for long, so I urge interested occupiers to get in touch as soon as possible.
“There continues to be huge demand for industrial space in Birmingham and the West Midlands and Prime Park ticks all the boxes, with excellent roadside prominence, transport connectivity and high volumes of passing traffic.”
Halesowen contractor A&H Construction will deliver the scheme which has a GDV of around £20m.
Jonathan Holland, senior fund manager for LGIM Real Assets, added: “It’s really satisfying to be transforming this redundant site into a thriving development with high-quality floor space that will bring inward investment to the area and new jobs for local people.”
