Developer IM Properties is to speculatively build a 53,600 sq ft warehouse at its Solihull Business park scheme in Warwickshire, West Midlands.
Work is due to start shortly following the pre-let of a 50,000 sq ft distribution hub for John lewis and the news that a third unit is under offer on a pre-sale basis to an owner occupier.
The speculative facility will include 3,500 sq ft of two storey offices and will have four dockhand five loading doors with 5 HGV parking and 45 car parking spaces.
Lewis Payne of IM Properties said: “With the pre-let to John lewis secured and Unit 3 currently under offer, we have tremendous confidence in the location and quality of Solihull Business park and we believe that this is the right time to bring forward a speculatively developed unit.”
David Willmer of GVA, joint letting agent with Savills, said: “There is a recognised shortage of Grade A buildings currently available both in the region and around the Birmingham and Solihull area specifically.”
The facility is expected to be available for occupation in November 2014.