First unit opens at major industrial development
THE first unit at a multimillionpound speculative development in the Black Country has been completed.
The 20,000 sq ft unit – Building A – has been built at the Prime Point development on the Pensnett Estate in Kingswinford.
The site is being developed by property, investment and management company LCP which is also headquartered on the estate.
The adjoining Building B, a 30,000 sq ft unit, has also been built and left as a shell.
Andrew Preston, industrial portfolio manager of LCP, said: “The contractors have been progressing very well indeed with the development of Prime Point and we are now three months ahead of schedule for the completion of the first unit.
“We’ve also been pleased by the response to the marketing of the site, the level of enquiries we’ve received since we launched the development has been extremely positive.”
When complete, the first phase of Prime Point will comprise a building of 20,000 sq ft and another of 30,000 sq ft, each of which can be split into 10,000 sq ft units to accommodate smaller businesses.
LCP has appointed commercial property consultancies Bulleys and Lambert Smith Hampton and the company said talks were progressing with a number of interested parties.
Really Useful Products, which manufactures storage boxes for business and home, has already signed a deal to move to a 31,000 sq ft bespoke building on part of Prime Point.
The Pensnett Estate is home to 160 businesses in over 2.4 million sq ft of commercial property and the Black Country Local Enterprise Partnership has been supporting LCP with this latest development.