A ground breaking ceremony has taken place at the Birmingham100 site. This project will see the construction of an industrial warehouse unit that will measure just over 100,000 sq. ft. located on a 5.72 acre site north of Birmingham City centre.
The Walsall Road project is owned by Barwood Property 2015 Limited Partnership. The Property Partnership is a five year Fund which is run by Barwood Capital, a Northampton based investment and development business that focuses on then real estate sector. The Fund managed by First Industrial, a specialist industrial real estate development business based in Warwick. Both these parties have named Buckingham Group Contracting Limited the contractor for the Birmingham100 project. It is thought that the contract will lead to the employment of more than 100 people.
This partnership has a history, with Buckingham Group Contracting Limited having already delivered more than 860,000 sq. ft. over the last few years for First Industrial. Hopefully this new Birmingham project will be a continuation of that good working relationship. It is hoped that this project will be completed on time and on budget.
The ground was officially broken at the ceremony by three members of the partnership for the project. Edward Henson who is director of Barwood Capital and Oliver Bertram, the development Director of First Industrial and Tony Hooper of the Buckingham Group completed the ceremony to mark the start of the development.
The project should represent the confidence in the growing demand for the industrial market in Birmingham. The development could lead to more growth and employment for the area. Creating industrial sites makes space for businesses looking for industrial units in the Midlands.
Birmingham100 is a warehouse unit that will be a single storey high and will be fully fitted with the ability to offer office spaces to be occupied by 130 people. There will also be space for 47 HGV trailers to park, and 95 car parking spaces. The plan is for the project to be finished by the third quarter of 2017, and is expected to be marketed at £11.5 million or available to rent at £6.50 per sq. ft.