Demand for warehouse space is growing strongly in the West Midlands. Property specialist DTZ reckons enquiries are up 30 per cent on this time last year.
Simon Lloyd of DTZ said: “Enquiries have come principally from both Tier 1 and Tier 2 automotive suppliers looking for new facilities from which to fulfil their new orders.”
The announcement from DTZ comes after Jaguar Land Rover’s announcement last week that £2bn worth of contracts will be awarded to companies based in the UK to supply the new Range Rover Evoque.
“Jaguar Land Rover’s announcement that more than 40 companies across the UK will benefit from contracts for components for the new Range Rover Evoque model, helping to create up to 5,000 new jobs, is a welcome boost for the West Midlands economy.
While the Evoque model will be assembled in Halewood, Merseyside, a number of Midlands-based suppliers are set to benefit from the £2bn worth of supply contracts being awarded, including Walsall Pressings and Kautex Unipart.
The luxury car manufacturer has undergone a reversal of fortunes of late following the uncertainty surrounding its two midlands’ plants last year and has recently confirmed that it is retaining both of its sites at Solihull and Castle Bromwich.