PARKHILL ESTATES TO BRING FORWARD MAJOR WEST MIDLANDS INDUSTRIAL SCHEME
Private landowner and remediation specialist, Parkhill Estates Limited, is to launch one of the Midlands’ biggest industrial development sites at MIPIM 2018. The 27-acre site in Moxley, West Midlands, will accommodate a single 440,000 sq ft unit in the first phase, with further potential for 30,000 sq ft trade counter to be delivered in further phases.
The development, to be known as Iron Park, is likely to appeal to a range of occupiers from traditional industrial occupiers (factories/car plants) to any of the major 3PL’s. A planning application for the first phase is likely to be submitted by May 2018 with the potential for practical completion by October 2020.
The scheme was conceived in response to historic levels of demand in the region, with some 6.5m sq ft of take up recorded in 2017 and the developers are prepared to proceed on either a speculative basis, or off the back of a significant pre-let.
JLL and Bromwich Hardy have been appointed as joint agents on the scheme.
Sam Cornes, CEO of Parkhill Estates, said. “Bringing forward sites such as Iron Park are Parkhill’s bread and butter. The launch of Iron Park has been the culmination of several years’ hard work and extensive technical planning. It is gratifying to be able to deliver the land back to economic use and we look forward to bringing Iron Park forward.”
James Cannon, property director at Parkhill Estates, added: “This is a strategically significant site right at the heart of the Midlands’ industrial ‘golden triangle’. With our in-house land assembly expertise alongside a first-class development team including Wardell Armstrong, Discovery, Gleeds, BHP Architects and Barton Willmore, we are confident we can deliver the product quickly to marketplace much in need of quality new space on this sale.
With an underlying strength of demand for industrial space in the region, alongside a swathe of occupiers currently in outdated accommodation, Iron Park is sure to be a welcome addition to the West Midlands inventory.”
Iron Park occupiers a strategically significant site between Birmingham and Wolverhampton on the Black Country New Road and close to junctions nine and ten of the M6 and offering easy access to the M54 and M42.