HARRIS LAMB REPORTS HIGH INTEREST IN TYSELEY SPECULATIVE DEVELOPMENT PROJECT
Ropemaker Properties Ltd has instructed Harris Lamb to secure tenants for three warehousing/manufacturing units being built in Tyseley further to agreeing a pre-let to SIG Ltd on the development.
SIG is expected to take occupation of its 15,000 sqft unit on the brand new Kingpin Industrial Park in the summer and Harris Lamb’s Commercial Agency team is already reporting high levels if interest in the three additional warehouses on the Wharfdale Road site.
Ranging from 24,000 to 120,000 sq ft, with completion dates from Autumn 2017 to early 2018, the speculative development demonstrates the investors’ commitment to meeting a well-documented demand for industrial stock, which is currently not being met within the Midlands.
The 13-acre redevelopment will provide manufacturing and distribution units of 24,000 sqft, 44,000 sqft and 120,000 sqft respectively, with the site itself providing 24/7 access, security lighting and demised yard and parking provisions.
Neil Slade, of Harris Lamb’s Agency team, confirmed that there had been a great deal of interest from potential tenants keen to see their names on the lease.
“For the past couple of years, we have been imploring developers and investors to meet the increasing demand for warehouse and industrial stock throughout the region and invest in speculative development, and Ropemaker Properties couldn’t have chosen a better area to do just that.
“Not only is it one of the few speculative development sites in the region offering mid-range industrial property, it is one of the better locations in the area from a logistics, staffing and demand perspective.
“Tyseley also has strong industrial credentials being one of the most buoyant and successful hubs of Birmingham, being home to national and global brands as well as regional and local businesses within the manufacturing, storage and distribution sectors,” he added.
“Those factors, combined with the high specification of the units being provided, have unsurprisingly led to a great deal of interest from the market, who have been waiting for new build opportunities in the area for many years. We are confident that Kingpin will prove to be a highly successful scheme and we hope to see other investors and developers following the Ropemaker lead elsewhere in the Midlands,” said Neil.
Harris Lamb is marketing the site with joint agents JLL.