St Francis Group and the Richardson family have announced the forward sale of its soon to be developed, high profile 400,000 sq. ft multi-unit Spectrum Logistics Park development to Tristan Capital Partners.
Tristan Capital Partners have purchased the site and St Francis Group will continue to manage the development and will be responsible for delivering the completed units.
The scheme which received full planning consent in February will see the development of 400,000 sq. ft of new logistics/industrial space across 8 units ranging in size from 25,000 sq. ft to 70,000 sq. ft, all achieving an excellent BREEAM rating.
Spectrum Logistics Park will be situated on the site of the former Pilkington Automotive and GKN Aerospace manufacturing plants in Kings Norton, Birmingham and adjacent to the A441 and A38 offering fast connections throughout the region.
Demolition of the existing factory space will be undertaken by DSM Limited with work on site scheduled to begin in May once the existing occupiers have moved out and the first units will be ready for occupation from September 2022.
Speaking about the sale and development – St Francis Group Director Gareth Williams said: “Spectrum Logistics Park will achieve a standard of specification rarely seen within the industrial warehouse sector, based on the high-quality St Francis Group base build specification but enhanced again to meet excellent sustainable standards that will combine to exceed occupier expectations”.
“We are excited to deliver more high-quality space and a sale much earlier in the process than we expected is evidence of the funding markets appetite for well-located mid box units to meet a high level of occupier demand at this time.”