Construction has begun on five new production and distribution buildings totalling 7,896sq m on the nine-acre Catesby Park, Kings Norton, South Birmingham, and already one has been pre-sold and there is keen interest in two more.
Following the successful completion and sale if the three-building first phase speculative development, The Catesby Property Group has now embarked on meeting the demand for industrial premises in the area by developing units from 1,115sq m to 2,230sq m in a £3M second phase due for completion early this summer.
Tim Suffield, of NAI Fuller Peiser, joint agent with King Sturge, comments “The start on the speculative second phase is further evidence of the confidence returning to the industrial market. Catersby Park, which is close to the M42, is well places to satisfy the freehold demand. One of the buildings has been pre-sold and there is also very encouraging interest in two of the remaining four. Two of the buildings could be combined to create 4,180sq m (45,000sq ft) of accommodation.”
Stephen Mee, managing director of The Catesby Property Group, says: “The first phase of three buildings totaling 4,180sq m (45,00sq ft) proved popular and our ability to offer freehold deals and the flexibility to accommodate purchasers’ fit-out requirements makes Catesby Park a very attractive proposition for occupiers. I am delighted that our phase one occupiers Railtech UK, Thomas Walker and Premier Stairways, are flourishing in their new premises.” He continues: “I am sure that we will see our phase one success repeated and our decision to speculatively develop 7,896sq m (85,000sq ft) of space shows our confidence and commitment to the Birmingham industrial property market.”