Property company Goold Estates is to speculatively develop a 70,000 sq ft industrial park in Wednesfield, West Midlands.
The 8.5-acre site has 4.5 acres of developable land and four acres of wetland, which is home to great crested newts. Natural England has this year launched a new policy relating to the conservation of the protected species. Goold Estates is working closely with Natural England and it is believed this will be the first industrial development under the updated legislation.
Dominic Goold, managing director of Walsall-based Goold Estates, said: “All of the units are being built speculatively, for sale or lease, because we are confident there is a strong demand in the market. These will be high quality industrial units in a sought-after location with excellent access to the motorway network, being just 4.6 miles west of J10 M6 and four miles south of J1 M54.”
He added: “There is excellent rental growth in the industrial and logistics sector, driven by a severe shortage of units available on the market. For example, Redmill Trading Estate, which we acquired as a completely vacant site in August 2015, was fully let in less than a year. That clearly demonstrates the level of demand in this region.”
Letting agents is Colliers International.