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January 2014 news archive

IM PROPERTIES LETS SECOND SPECULATIVELY DEVELOPED UNIT AT BIRCH COPPICE, TAMWORTH


Warwickshire-based developer, IM Properties has completed the letting of its second speculatively developed industrial unit at Birch Coppice Business Park near Tamworth.

The 169,000 sq ft Unit 2 has been let to DAU Draexlmaier Automotive UK Limited, a supplier of electrical components to the automotive industry, on a 15 year lease.  The company will be using its new premises to service an existing contact with manufacturer Jaguar Land Rover.

IM Properties was the first developer to begin speculative development of distribution units over 100,000 sq ft since the start of the economic downturn in 2008, when it began construction of two logistics units totalling 334,500 sq ft in July 2013.

Both units have now been let prior to their completion, with a deal having already been agreed with distribution and outsourcing specialist, Bunzl UK for the 165,600 sq ft Unit 1.

Kevin Ashfield of IM Properties said: “The deal to Draexlmaier was signed within seven days of agreeing heads of terms, emphasising the lack of available stock and the need for occupiers to act quickly to source their property requirements.

“We are extremely pleased to have let both units prior to their practical completion, which highlights the strength of Birch Coppice as a location, IM Properties’ reputation for delivering high quality, flexible industrial developments and is further evidence of the improving economic sentiment.”

The award-winning Birch Coppice Business Park is located close to the M42 in North Warwickshire and is home to a number of leading occupiers, including Ocado, UPS, Volkswagen Group, Euro Car Parts and Roadways Container Logistics.

A Draexlmaier spokesperson, said: “We are delighted to have secured our new facility at Birch Coppice. This new premises will be integral to us servicing JLR and the location works perfectly for us”.
Situated in Dordon at Junction 10 of the M42, the 400 acre Birch Coppice Business Park is the West Midlands’ largest rail-served development site and one of the regions’ biggest employment success stories.

IM Properties lets second speculatively developed unit at Birch Coppice

Birch Coppice Spec Build

Warwickshire-based developer, IM Properties has completed the letting of its second speculatively developed industrial unit at Birch Coppice Business Park near Tamworth.

The 169,000 sq ft Unit 2 has been let to DAU Draexlmaier Automotive UK Limited, a supplier of electrical components to the automotive industry, on a 15 year lease at £5.75 per square foot. The company will be using its new premises to service an existing contact with manufacturer Jaguar Land Rover.

IM Properties was the first developer to begin speculative development of distribution units over 100,000 sq ft since the start of the economic downturn in 2008, when it began construction of two logistics units totalling 334,500 sq ft in July 2013.

Both units have now been let prior to their completion, with a deal having already been agreed with distribution and outsourcing specialist, Bunzl UK for the 165,600 sq ft Unit 1.

Kevin Ashfield of IM Properties said: “The deal to Draexlmaier was signed within seven days of agreeing heads of terms, emphasising the lack of available stock and the need for occupiers to act quickly to source their property requirements.

“We are extremely pleased to have let both units prior to their practical completion, which highlights the strength of Birch Coppice as a location, IM Properties’ reputation for delivering high quality, flexible industrial developments and is further evidence of the improving economic sentiment.”

The award-winning Birch Coppice Business Park is located close to the M42 in North Warwickshire and is home to a number of leading occupiers, including Ocado, UPS, Volkswagen Group, Euro Car Parts and Roadways Container Logistics.

A Draexlmaier spokesperson, said: “We are delighted to have secured our new facility at Birch Coppice. This new premises will be integral to us servicing JLR and the location works perfectly for us”.

Situated in Dordon at Junction 10 of the M42, the 400 acre Birch Coppice Business Park is the West Midlands’ largest rail-served development site and one of the regions’ biggest employment success stories.

FLURRY OF LETTINGS LEAVES ONLY TWO UNITS AT IM PROPERTIES’  LONGWELL GREEN TRADE COUNTER SCHEME



IM Properties has completed a duo of lettings at its Longwell Green trade counter scheme near Bristol, leaving just two units available to let.


The 3,850 sq ft Unit 5 has been taken by Betta Living, which opened a new kitchen and bathroom showroom in December, while Formula One Autocentres will launch a new servicing and MOT testing centre at the 5,000 sq ft Unit 6 in February 2014. Both lettings have achieved rents in excess of £10 per sq ft.


Located off the A4147 Avon Ring Road, the trade park is just five miles from Bristol City Centre and has strong connections to the national motorway network through Junction 1 of the M32 and Junction 19 of the M4.

Lewis Payne, IM Properties, said: “This has been an excellent year for our Longwell Green development, with Formula One Autocentres and Betta Living joining other well-known names on the trade park. While we always anticipated that this would be a popular site, the speed with which these units have been let has been pleasing and is testament to the strong regional location.  A total of 5 deals have now been done since the scheme was completed a little over 12 months ago.”

Ian Barrett, Property Director, Formula One Autocentres, said: “We are delighted to have secured this excellent site which is part of our drive towards having over 100 motorists centres open as quickly as possible. IM Properties were very helpful and professional throughout the deal and we are looking forward to opening the centre in early February, following fitting out.”

Adept Consultancy UK Limited acted on behalf of Formula One Autocentres.

Longwell Green Trade Park has proven to be a popular location since its completion in 2012 and is already home to Screwfix, Halfords Autocentres and Toolstation. The trade park scheme is located adjacent to a strong retail location with occupiers including Homebase, B&Q, Marks & Spencer, Next and Boots.

The completion of the deals leaves just two trade counter units capable of providing between 2,940 sq ft and 5,900sq ft - available at the scheme. 

Each of the available units benefits from a double height glazed feature entrance, 7.2m minimum clear internal height, 37.5 kN/m2 floor loading, overhead sectional loading door and substantial signage panels.

In addition, IM Properties has planning permission for an 18,000 sq ft self-storage unit at the trade park and talks are taking place with a number of operators.

For more details please contact Gordon Reynolds / Gregory Cooper at Cushman & Wakefield on 020 7935 5000 or Paul Baker / Chris Miles at Jones Lang LaSalle on 0117 927 6691.