Infrastructure and remediation work has started on site at Kingpin, Tyseley, a £20m development of industrial and warehouse units on a 13-acre canal-side site in Birmingham. When complete the project will see the delivery of over 200,000ft2 of B1, B2 and B8 warehouse and manufacturing units.
The transformation of the previously rundown site is being delivered by H2O Urban, a joint venture company owned 50% by Canal & River Trust and 50% by private developer bloc. Tyseley is just one of several regeneration and redevelopment projects that H2O is working on in conjunction with Canal & River Trust adjacent to its waterways. Funding for the site has been provided by Ropemaker, the property arm of the BP Pension fund.
H2O has appointed A & H Construction to build out the scheme; the firm has a long history of building commercial and industrial buildings both in the Midlands and throughout the UK. The development will provide high specification build-to-suit warehouse and manufacturing units ranging in size from 40,000 ft2 up to a maximum of 110,000 ft2, available on a leasehold basis.
The first unit will be completed in June 2017. Other units will then be progressively completed through the year with the final structure ready in March 2018.
In addition to delivery, H2O’s role has comprised obtaining outline planning approval, obtaining reserved matters approval and identifying and securing Ropemaker Properties as its funding partner for the scheme. It has also been announced that SIG Trading has agreed a 15-year lease on a 15,000ft2 unit, trade counter and large builders yard at the site, relocating from premises nearby. As the first tenant, SIG’s premises will be completed by summer 2017.
Richard Thomas, Director of bloc and managing the scheme for H2O Urban, said: “After securing funding in 2016, we are delighted that this project is now on site. There is a severe shortage of Grade A industrial accommodation in Birmingham and throughout the Midlands, so we know that Kingpin will prove to be an extremely attractive option to potential occupiers who are attracted by the location, the quality of the development, and the build-to-suit opportunities. We hope that the location will be used by a variety of firms, including local companies looking to set up or expand their business.”
James Lazarus, head of property development at Canal & River Trust said: “We’re excited to see this innovative scheme create a better waterside frontage to the Grand Union Canal through the work of H2O Urban. H2O and Canal & River Trust strive to set an example to other developers of waterside sites by establishing best practice on the sites it owns. It is important that we are able to regenerate land into something that adds value to an area and the canal-side realm. Kingpin not only gives us this opportunity, but will provide companies with much-needed high-quality warehouse and industrial units in an excellent location.”
For further information on lettings, contact Tom Price at JLL ([email protected]; 0121 634 6537) or joint letting agents Harris Lamb.