Developer Goodman and joint venture partner LaSalle Investment Management are speculatively to develop five industrial and distribution units at Lyons Park in Coventry after acquiring a further nine acres at the site from the Homes & Community Agency.
Goodman will start construction immediately after getting planning permission earlier this month. The five units will total over 214,000 sq ft, ranging in size from 32,000 to 50,000 sq ft and providing a substantial opportunity to capitalise on demand for modern industrial space in the local area.
Charles Crossland, managing director of Goodman UK Logistics, said: “This development is great news for the region as it will give local companies the opportunity to expand while also attracting other businesses, especially in this part of the UK where there is a lack of supply of Grade A industrial space.
A further 600,000 sq ft of land is available for design and build opportunities at Lyons Park. Formerly a Jaguar Land Rover production site, the park is located close to the A45 trunk road that links Coventry to Birmingham. It offers easy access to the M45, M6 and M1 motorways and is within four hours’ drive of most of England and Wales.
Savills and CBRE were the acting agents.