DAU Draexlmaier Automotive UK has taken a 169,000 sq ft speculative warehouse at IM Properties Birch Coppice scheme in the West Midlands.
The property is the second speculative warehouse let by the developer at the 400 acre scheme near Tamworth. It has been let on a 15 year lease at £5.75 per sq ft.
The company will be using its new premises to service an existing contract with manufacturer Jaguar Land Rover.
IM Properties was the first developer to begin speculative development of distribution units over 100,000 sq ft since the start of the economic downturn in 2008, when it began construction of two logistics units totalling 334,500 sq ft in July 2013.
Both units have now been let prior to their completion, with a deal having already been agreed with distribution and outsourcing specialist, Bunzl UK for the 165,600 sq ft Unit 1.
Kevin Ashfield of IM Properties said: “The deal to Draexlmaier was signed within seven days of agreeing heads of terms, emphasising the lack of available stock and the need for occupiers to act quickly to source their property requirements.
Letting agents are Colliers International, CBRE and Eagleton & Co.