Major new warehouse scheme near M6Toll
WORK is set to start on a new £8 million warehouse development in the West Midlands.
Commercial property investor and developer Barberry Group is leading the project to create a speculative 64,000 sq ft warehouse on Kingswood Lakeside Business Park in Staffordshire.
The 3.5-acre site near the M6 Toll has been acquired by Barberry from Staffordshire County Council and Cannock District Council.
Barberry has secured detailed planning permission and appointed main contractor Benniman to start on site in January and the development is expected to reach practical completion in the summer.
Barberry development director Jon Robinson said: “Barberry64 is another high quality warehouse development being delivered by our team and we’re excited to see work start on site in the new year.
“We are confident our speculative development will cater for several occupier requirements live within the market, providing them with a headquarters building in an excellent location. We hope to generate a great deal of interest, giving occupiers the opportunity to purchase or lease this building.
“With the acquisition of this site in Cannock, we now have more than 2.9m sq ft of industrial and warehouse developments in the pipeline.
“We have worked hard and invested heavily to create a Barberry brand in the industrial and logistics market providing high quality buildings to an institutional specification and it is therefore hugely satisfying to know that investors recognise the quality of our developments.”
Coun Mark Winnington, Staffordshire County Council cabinet member for economic growth, added: “Barberry’s acquisition and development of this final plot of the Kingswood Lakeside Business Park is a significant milestone for site and the wider area.
“It’s one of our flagship sites and was constructed by the county council. The quality and success of this final plot development, as with the wider business park, underlines the benefit of close co-operation between the public and private sectors. It is further demonstration of how we’re continuing at pace with our economic growth programme in Staffordshire.”
Nick Oakley, head of property finance at Frontier Development Capital, said: “We are delighted to support Barberry in bringing forward this key employment site.
“The West Midlands Combined Authority, via its CIF Loan Fund, has enabled the accelerated development of the new industrial unit which will create increased employment and inward investment into the West Midlands region.”
Barberry currently has a 2.9 million sq ft development pipeline with a gross development value of more than £295 million.
The company is also delivering student accommodation and residential schemes worth in excess of £200 million and has 528 acres of strategic development land, with a development land value of £262 million, across 11 sites under its control.