Trebor Developments and Schroder Real Estate Investment Management are bringing forward a new logistics scheme in the West Midlands.
They have agreed terms to bring forward the redevelopment of the former TATA Steel site at Steelpark Way, Wolverhampton.
The new scheme will be known as Revolution Park and will accommodate warehouse units from 25,000 ft2 to 200,000 ft2. A planning application will be submitted this June, allowing for the occupation of units in Summer 2022, using Trebor’s fast track development method.
The industrial and logistics units are being promoted on a build-to-suit basis for manufacturing or logistics uses and will be built to net zero and BREEAM “Excellent” standard.
Philip Scott, Investment Manager for Schroders commented: “Take up for industrial and logistic units across the UK continues to grow as Covid-19 not only fast forwarded the growth in online retail, but also promoted manufacturers and retailers to review their supply chains and hold extra stocks of key items.
“Sustainability is an integral element of our investment process and has become a key requirement from industrial occupiers. The redevelopment of Revolution Park will create one of SREF’s greenest industrial assets and help to futureproof the site by delivering high quality, environmentally friendly, lower cost buildings for tenants. We therefore hope the redevelopment will result in maximum levels of tenant interest, longer term leases and increased rents which will deliver strong returns for our investors.”
Bob Tattrie, Managing Partner for Trebor, commented: “This outstanding site in a very well-established industrial location will deliver a range of build to suit accommodation for local, regional and national industrial occupier requirements.”
Gerald Eve and Bulleys are joint letting agents.