Property developer Chancerygate has teamed up with investor Bridges Fund Management to submit plans for a logistics space in Birmingham.
The joint venture partners plan to build the 270,000 sq ft grade-A space on a former automotive component manufacturing site on Chester Road in Erdington, Birmingham.
The project, called Torque, has a projected gross development value of £77m and would comprise 22 leasehold units ranging between 4,500 sq ft – 60,000 sq ft.
All units would come with electric vehicle charging points and solar panels on the roof.
The jv said the proposed buildings would also be built from high-performance materials to reduce emissions and occupier operations costs. The scheme is aiming for minimum sustainability ratings of EPC B and a BREEAM Very Good.
Chancerygate development manager Rob Watts said: “There is unsatisfied demand from SME occupiers in Birmingham and across the West Midlands for high-quality, sustainable urban logistics units in prime locations.
“We look forward to working with Birmingham City Council and stakeholders to bring forward this much needed highly specified development.”
Partner at Bridges Fund Management Guy Bowden said the project would bring valuable jobs to the local economy and be attractive to potential occupiers, due to its location and sustainability.
Bowden said: “Our focus on sustainability is key to this. It enables us to offer occupiers lower running costs – thanks to smart design and on-site renewables – while also helping them achieve their own ESG goals through lower emissions.”
This application comes hot on the heels of approval for a Dublin scheme for the two firms.
Knight Frank and Gerald Eve are acting as agents for Torque.
Check out planning information for Birmingham >>
Image © Chancerygate
Send feedback to Dominic Plaskota
Follow Estates Gazette
