An Erdington Industrial Park is close to full capacity with a classic car parts supply firm being confirmed as its latest occupier, prompting plans to build a new high-specification warehouse at the site to meet demand within the region.
Federated Hermes has secured Leacy Classics (Leacy) as tenants for a 34,500 sq ft fully refurbished industrial property at Erdington Industrial Park, with a quoting rent of £5.50 per sq ft.
Leacy has signed a 10-year lease for Unit 14 &15 taking the warehouse in addition to its existing premises on Aston Lane.
Alex Eagleton of Harris Lamb, who oversaw the letting, said: “Leacy were attracted to the opportunity due to the unit’s high standard of refurbishment and its convenient location, being immediately off the A452 Chester Road and just a mile from Junction five of the M6.
“We now have just one 30,711 sq ft opportunity remaining at the park, and with high demand for further industrial property within the West Midlands. The owner, Federated Hermes, plans to address that need by speculatively building a 42,000 sq ft detached warehouse unit at the front of the site, which now has planning consent.”
Harris Lamb & JLL have been appointed as joint agents for the opportunity, Erdington 42, which will comprise an industrial / warehouse unit with 11m eaves height, 43m deep secure yard and parking areas.
Ian Cody, Director, Investment Management at the international business of Federated Hermes, added: “With nearby occupiers including Jaguar Land Rover, Jewson and Selco, we anticipate high levels of interest from potential occupiers for the property, which is available on a new full repairing and insuring lease.
“Tenants are well provided for at the site, which includes a high-voltage power supply, photovoltaic panels, first-floor comfort cooled offices, three ground level and two dock loading doors and 36 car parking spaces, as well as four electric vehicle charging bays.
“Construction is due to start on the next warehouse unit in 2020, with the building expected to be ready for occupation at the end of the year,” he added.
JLL are joint agents on the estate, Sanderson Weatherall acted on behalf of Leacy Classics.