New speculative warehouse development in the Midlands

Midlands | Property & Construction

opus oldbury

A 121,175 sq ft warehouse/industrial unit being speculatively developed in the Black Country by Opus Land and Palmer Capital is coming to market.

Property developer Opus Land has instructed LSH and JLL to market its new XPANSE 120 development at Seven Stars Road in Oldbury, near West Bromwich.

Opus Land and Palmer Capital have acquired a rare site of scale in the West Midlands, comprising 6.35 acres in an established industrial location, just off Junction 2 of the M5. The site has been acquired with vacant possession and is funded by Palmer Capital Development Fund IV.

The project will also receive funding from the West Midlands Combined Authority’s (WMCA’s) Collective Investment Fund (CIF), a commercial development fund designed to stimulate jobs, opportunity and growth in the region.

Opus Land plans to capitalise on the distinct lack of Grade A warehouses in this location by speculatively building a 121,175 sq ft B2/B8 unit and will market the scheme formally to occupiers. The unit will benefit from 10% office content at first and second floors, 125 car parking spaces, lorry parking and an oversized and secure yard.

Tom Edgar, development director at Opus Land, said: “We will start construction speculatively, with completion due in Spring 2020, knowing that units of this size and location are in very high demand. We will offer a rare, flexible approach to occupiers seeking either freehold or leasehold options in new-build Grade A facilities.”

Andy Street, the Mayor of the West Midlands, said: “This is yet another example of how, by working collaboratively with partners in the public and private sector, we are able to unlock unwanted brownfield land – in this case, a former scrap yard. This site will now no longer be a blight on the area; it will become a large industrial unit capable of supporting many jobs and businesses here in Sandwell.”

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