Commercial agents at Harris Lamb have secured a global business the occupier of a speculatively built mid-box industrial unit at the heart of the Midlands logistics corridor.
In one of the first market letting of its kind in a number of years, ICS Cool Energy signed a 10-year lease on Unit 1 Avalon Point, a prime mid-box scheme developed by pan-European investor and developer Vengrove at the well-established Erdington Industrial Park.
Completed last year and built to a BREEAM ‘Excellent’ specification, Avalon Point comprises of two warehouses with a combined floor area of 100,604 sq ft, offering a 10 metre eaves height, 500 KVA power supply, integral offices, 119 car parking spaces and a 44 metre loading yard, occupying a secure site at the entrance to the popular business park.
ICS Cool Energy has leased the 42,538 sq ft Unit 1 at a headline rent of £12.50 per sq ft.
The deal quickly followed a 30,000 sqft disposal on Erdington Industrial Park just days before, with established occupier Lions Logistics expanding its presence onsite and bringing the site close to fully let status.
Neil Slade, who oversaw the letting, said: “The new build mid-box market has been a little lethargic, perhaps consequential to the compounded political and economic uncertainties we have faced but there is recent positive take-up in the second quarter of 2025 with a number of secondary unit lettings. However, this is the first speculative mid-box deal and – we believe – one of the best ever rents secured within the Birmingham commercial marketplace.
“Despite a number of competitive opportunities within the region, ICS was attracted to the property due to its high specification new-build credentials, its superb location and ability to occupy quickly.
Situated at the entrance of the industrial estate, Avalon Point is a prime logistics hub, just five miles from Birmingham City Centre and offering excellent access to the national motorway network via Junction 5 of the M6, which is just a mile away from the site.
“Occupational interest in the estate is consistently strong with Vengrove having refurbished and let a number of multi-let industrial units at the site over the past 12 months, including deals to Rigby Group and FormelD. The 58,066 sq ft Unit 2 Avalon Point is now the only remaining opportunity and benefits from 72 car parking spaces, HGV parking, dock and level access doors and secure loading yard.
“Alongside our joint agents Darby Keye, it is hoped that continued strong enquiry levels and interest in Unit 2 will conclude in a further letting and 100% occupancy in the near future.
