SEGRO is expecting to break the £6 per sq ft rent barrier with the first speculative phase of its Meteor Park development in Aston, Birmingham.
Phase 1 of Meteor Park is made up of two units – the first offers 22,235 sq ft of space and the second 37,042 sq ft. Both units occupy a prominent location on the Meteor Park development and will have office space complete with staff facilities over two floors and are available on a leasehold basis.
Two units of 22,235 sq ft and 37,042 sq ft are being offered through DTZ Debenham Tie Leung.
The first phase has already attracted a high level of interest from a range of local and regional occupiers looking for industrial accommodation, finished to a high standard that is ready for immediate occupation.
John Sambrooks, associate director at DTZ in Birmingham, comments: “The wait is now over as Meteor Park delivers the first new space to Birmingham’s industrial market. Increasing appetite for well-positioned, high quality industrial and distribution facilities has been driving speculative development across the region and will continue to do so. This trend highlights the current levels of confidence in the industrial and distribution market in the West Midlands.” As the first speculative units to be finished this year, it is likely that rents at Meteor Park will push through the £6 per sq ft barrier for the first time.