Opus Land and Arlington Property Investors are set to increase the size of their Opus Nine development in the Black Country following the £2m plus acquisition of an adjacent 3.44ha (8.5-acre) plot owned by garden tool maker Spear & Jackson.
This brings the total size of the scheme from 10.12ha to 13.35ha (25 acres to 33 acres) and allows the developer to provide up to 46,450 sq m (500,000 sq ft) in a single building.
Richard Smith of Opus Land said he was already in talks with four operators for schemes ranging between 9,290 and 46,450 sq m (100,000 and 500,000 sq ft).
Opus Nine is situated off junction 9 on the M6 motorway. Point 1, a 9,755 sq m (105,000 sq ft) warehouse, on the site is under construction with completion due in August this year. It boasts 12m eaves, eight loading docks and a floor loading of 50kn/sq m.
Joint agents King Sturge and DTZ Debenham Tie Leung are quoting £59.21 per sq m (£5.50 per sq ft).
Opus Land and Frontier Estates have sold their stake in The Hub, Birmingham’s largest developable brownfield site, to funding partner, Prudential for a rumoured £1m. The 38.45ha (95 acre) site has consent for up to 185,800 sq m (two million sq ft) of space. Knight Frank and M3 are agents for the scheme.