IM Properties has signed up Argos, one of the UK’s leading digital retailers to its new sustainable logistics building in Birmingham, ahead of its completion.
IM Properties’ new Hub 69, Electricity Cost Neutral Building (ECN) is just 3 miles north of the city centre at the 90-acre business park – The Hub in Witton.
The 69,296 sq ft building uses the combination of photovoltaic panels with a cutting edge battery technology, to achieve an A+ energy performance certificate (EPC) and the potential of zero electricity bills.
IMP’s UK development manager, Rachael Clarke, believes the Hub was the perfect opportunity to deliver its first ECN building.
“When we acquired The Hub we believed it was the ideal site for last mile delivery given its proximity to central Birmingham, and the local and major road network. This letting is proof of this concept.
“We wanted to lead the market on the sustainability agenda and we are very pleased to see our first building adopting the innovative use of photo-voltaic panels and next-gen battery technology going live in the coming months.”
The battery technology used can be solar charged or charged from the grid when electricity is cheaper to use during more expensive periods in a process known as peak shaving.
David Binks partner at the Birmingham offices of Cushman and Wakefield who brokered the deal on behalf of Argos added:
“This is a significant deal for the marketplace and Argos’ commitment shows the strength of the opportunity and location, ahead of the building being completed.”
CBRE, Knight Frank and Savills are joint letting agents for The Hub, which has planning for up to a total of 400,000 sq ft with a biggest single building footprint of 300,000 sq ft.
IMP is one of the largest privately owned property groups in the UK, with an investment and development portfolio of c£900 million across the UK, Europe and the US.