Chancerygate and Bridges Fund Management have secured planning consent to build 270,000 sq ft of grade-A urban logistics space in Erdington, Birmingham.
The Torque scheme, located on the former GKN Driveline factory site on Chester Road, will comprise 22 leasehold units ranging from 4,500 sq ft to 66,000 sq ft and has a GDV of around £77m.
A 0.8-acre plot of land to the front of the estate has been sold to the West Midlands Combined Authority.
The site is located on the outskirts of Birmingham city centre and is within close proximity to junctions 5 and 6 of the M6.
Neighbouring occupiers to the development include Jaguar Land Rover, Volvo and Selco Builders Warehouse.
All units at Torque will be fitted with electric vehicle charging points and have solar panels on their roofs.
The scheme is targeting EPC A+ and a BREEAM Excellent ratings as a minimum.
Chancerygate development manager Rob Watts said: “Torque will help satisfy the high demand from SME occupiers in Birmingham and across the West Midlands for high-quality, high-specification sustainable urban logistics units.
“We are also incredibly proud to be extending the site’s history by regenerating it into grade-A urban logistics units focused for SMEs that will be fit for future generations.
“The scheme’s location on what is one of the city’s most prominent sites will be hugely appealing a range for prospective occupiers. This is evidenced by the land deal which has already been agreed with the WMCA and continues to generate such strong interest for the remaining plot.
“Now that planning has been granted, we’re excited about starting work on site and developing what will be much-needed space for Birmingham and the wider West Midlands.”
Adam Amijee, investment manager at Bridges Fund Management, said: “”We are delighted to have the opportunity to transform this redundant site in Erdington into a best-in-class urban logistics facility that will support hundreds of jobs.
“We will be targeting market-leading sustainability credentials, using smart design and on-site renewables to ensure the facility is zero carbon emissions in operation.
“This will appeal to a range of occupiers who want to reduce their running costs, accelerate their net zero journey, and future-proof themselves against possible regulation.”
Knight Frank and Newmarket are agents for Torque.
Send feedback to Akanksha Soni
