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March 2014 news archive

IM Properties announces speculative development at Solihull Business Park

CGI of Spec Build unit at Solihull Business Park

Warwickshire-based IM Properties is starting speculative development of a new distribution/industrial unit at Solihull Business Park.

Work is due to commence imminently on the 53,599 sq ft Unit 1, which will be designed to achieve an EPC rating of A and will include 3,500 sq ft of Grade A offices over two floors. The unit will also feature five loading doors including four HGV loading docks, a large yard with 5 HGV parking spaces and 45 car parking spaces.

IM took the decision to develop this unit on a speculative basis following the successful pre-let of Plot 2 to John Lewis for a first-of-its-kind regional distribution hub, work on which began earlier this year.

IM will also commence development on Unit 3, which is currently under offer to an owner occupier on a pre-sale basis, which will comprise a 30,000 sq ft industrial and distribution unit.

Lewis Payne, IM Properties, said: “With the pre-let to John Lewis secured and Unit 3 currently under offer, we have tremendous confidence in the location and quality of Solihull Business Park and we believe that this is the right time to bring forward a speculatively-developed unit.”

Joint agents on the scheme are GVA and Savills.

David Willmer, GVA, said “There is a recognised shortage of Grade A buildings currently available both in the region generally and around the Birmingham and Solihull area specifically for high quality industrial units between 50,000 and 100,000 sq ft.  We have received a good level of interest in the Park to date and IM’s decision to develop this unit speculatively should help to meet some of that demand.”

Solihull Business Park is a fully serviced, well connected and established business location, benefitting from its location just off the A34 Stratford Road, close to Solihull town centre and just one mile from Junction 4 of the M42 and wider UK motorway network.

Ranjit Gill of Savills, said: “Solihull Business Park’s location makes it an exceedingly appealing prospect for industrial occupiers, with the motorway network on the doorstep and Birmingham Airport and Railway Station less than half an hour away.  With the general lack of stock available and demand currently outstripping supply we expect to receive a good level of interest in this unit.”

Unit 1 is expected to be available for occupation by November 2014.

IM PROPERTIES AND JOHN LEWIS MARK GROUNDBREAKING AT SOLIHULL BUSINESS PARK


John Lewis and IM Properties have marked the first stage in the development of a new 50,000 sq ft customer delivery hub at Solihull Business Park.

The ground breaking, which marks the official start of the construction period, took place at IM Properties’ 10 acre development site.

When completed, the building will act as John Lewis’s first new style regional Customer Delivery Hub, enabling all omni-channel orders to be delivered to customers’ homes across Birmingham and the wider West Midlands area.

Mark Robinson, Director of Customer Delivery Operations, John Lewis, said: “We are exceedingly pleased to have reached this significant milestone in the development of a landmark Customer Delivery concept for John Lewis.

“By opening the new facility we are continuing to support the growth seen in our selling branch and online business across Birmingham whilst simultaneously returning space in our stores to retail use.  We are looking forward to
working closely with IM Properties in the fulfilment of this exciting development.”

Sitting just off the A34 Stratford Road, Solihull Business Park is located at the heart of the national transport network, with junction 4 of the M42 just a mile away and Birmingham Airport and railway station both within easy reach. 

Lewis Payne, IM Properties, said: “We are naturally delighted that John Lewis selected Solihull Business Park as the first location for their Customer Delivery Hub project. The site’s proximity to the UK motorway network made our site the natural choice for John Lewis, allowing them to expand their operations in the Solihull area.”

The first-of-its-kind distribution centre will be designed to achieve an EPC rating of A and BREEAM Excellent status, with Grade A standard offices.  John Lewis is expected to be operational by Autumn 2014, ready to fulfil online orders ahead of Christmas.

Solihull Business Park is fully serviced with infrastructure, including estate roads and key utilities in place, enabling buildings to be delivered quickly on a design and build basis to suit specific occupation requirements.