An £85m logistics park is being managed through a joint venture between developer Chancerygate and investor Bridges Fund Management, after the duo acquired a former car parts production facility in Erdington, Birmingham.
The 12 acres will evolve to create 300,000 square feet of urban and commercial logistics space, including 26 sets ranging from 5,000 to 60,000 square feet.
Neighbouring occupants include Jaguar Land Rover, Volvo, Selco Builders Warehouse and advertising and advertising parks.
Rob Watts, Head of Development at Chancerygate, said: “The acquisition of what is considered to be one of Birmingham’s most vital sites is a strong intention for our partnership with Bridges and underlines our strong confidence in the urban logistics sector.
“There is an unmet demand for high-end equipment in locations across the city. We aim to solve this challenge by regenerating redundant construction into a new Grade A sustainable home, suitable for a wide diversity of potential occupants.