Logistics giant DPD is set to open a new operation in the Black Country.
Birmingham-based Trebor Developments and investment manager Schroders Capital have agreed terms with DPD to build a new 60,000 sq ft parcel facility on Revolution Park in Wolverhampton.
Revolution Park was launched last year after planning consent was awarded for a four-unit industrial scheme but, following a marketing exercise, a deal was struck with DPD for a warehouse which will now occupy the majority of the 10.5-acre site.
The new warehouse will be net zero carbon in both construction and operation.
A planning application has just been submitted and construction is scheduled to start this summer, subject to consent.
Louise Ferguson, head of property for DPD UK, said: "We are absolutely delighted to agree terms for a new, purpose-built DPD distribution centre at Revolution Park.
"It is a great location for us. The new facility is part of DPD's strategy to be the most responsible and sustainable city centre delivery company and a leader in the move to electric delivery vehicles in the UK.
"We have invested heavily in our regional network in the last ten years to meet the huge increase in demand for our services and this new facility will allow us to offer an even better service to the area, with a more efficient fleet, shorter journeys and lower emissions."
Greg Dalton, development manager for Trebor, added: "It's fantastic to have agreed terms with DPD so soon after the site's formal launch to market and we're delighted to be working with Schroders to see this important brownfield site in the Black Country fully redeveloped so soon.
"Furthermore, DPD supports Trebor and Schroders' ambition to invest heavily in sustainable initiatives and resources and the unit will create a best-in-class asset for all parties involved."
Jessica Berney, fund manager of Schroders Capital UK Real Estate Fund, said: "To cater for the growing demand for industrial space, we are continuing to develop and refurbish our existing industrial assets across the UK.
"This allows us to increase our exposure to the sector without having to pay high prices for new assets in a very competitive market."
