Construction has started on a new £20 million development of more than 70,000 sq ft of warehouse and trade counter space in Birmingham.
Called Prime Park, it is being built on a 3.4-acre brownfield site off Hamstead Hill four miles north of the city centre.
It is due for completion next spring and will comprise ten units ranging from 1,690 sq ft to 28,416 sq ft, targeting net zero carbon in operation.
Several of the units have already been pre-let or are under offer to occupiers including self-storage operator SureStore which has taken the largest single building of 17,229 sq ft. Bakery chain Greggs has agreed terms for the smallest unit of 1,690 sq ft at the front of the estate.
The project is being led by Legal & General Investment Management's specialist industrial fund IPIF and its development partner Prime Box. Halesowen-based contractor A&H Construction is building the scheme.
"I'm thrilled to see construction get underway on this scheme which will offer high-spec sustainable buildings on a disused, former factory site,” said Prime Box director Richard Lord.
"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."
Jonathan Holland, senior fund manager with LGIM Real Assets, said: "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."
Birmingham property agencies KWB and Johnson Fellows are jointly marketing the space to occupiers.
Kenny Allan, KWB's director of industrial agency, said: "The fact that several of the units were pre-let or under offer pre-construction suggest that the remaining units won't be available for long. There continues to be huge demand for industrial space in Birmingham and the West Midlands."
