
IPIF, a specialist industrial fund of Legal & General Investment Management, alongside development partner Prime Box, has begun construction on a 3.4-acre brownfield site in Hamstead Hill, Birmingham, UK.
Named Prime Park, the more than 70,000ft² industrial development will provide a warehouse and trade counter space four miles north of Birmingham’s city centre.
Prime Park will feature ten units ranging from 1,690ft² to 28,416ft² in size. The scheme aims to operate at a net-zero carbon level.
Several apartments have already been pre-let or offered to occupiers, including for self-storage provider SureStore and bakery Greggs.
The new £20m development is expected to be complete early next year.
Prime Box director Richard Lord said: “I’m thrilled to see construction get underway on this scheme which will offer high-spec sustainable buildings on a disused, former factory site.
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By GlobalData“We have prioritised energy efficiency to minimise environmental impact and appeal to occupiers, their employees and customers alike who are putting more and more focus on sustainability.”
Contractor A&H Construction is building the development.
The facility is being jointly marketed to customers by Birmingham property businesses KWB and Johnson Fellows.
KWB director of its industrial agency Kenny Allan said: “The fact that several of the units were pre-let or under offer pre-construction suggest that the remaining units won’t be available for long. There continues to be huge demand for industrial space in Birmingham and the West Midlands.”