American company Exeter Property Group has put forward a planning application for a 372,000 sq ft distribution centre in the West Midlands. The site, which includes 15,000 sq ft of office and car park space, would be located on a 20-acre plot of land at Kingswood Business Park in Cannock.
If the development is approved by Cannock Chase Council, it will involve an inward investment into Cannock upwards of £20 million.
“We are delighted to have secured this strategic site for the development new logistics space and look forward to working closely with Cannock Chase Council to ensure its’ successful delivery into the market,” said Rhodri Davies, project & investment services director from Exeter Property Group’s London office. Kingswood Business Park in Cannock has become a focal point for corporate occupier relocations, with a strong labour pool and excellent motorway connections for modern logistics operations.
“The Midlands property market is attractive to such occupiers, given its’ regional and national significance for efficient distribution. There is a shortage of available large buildings across the Midlands and strong occupier demand, so we are confident of attracting another major job-creating user to the area.”
Midlands-based developer Graftongate assisted Exeter with the site identification and acquisition.