Joint venture partners Chancerygate and Bridges Fund Management have submitted plans to speculatively build 270,000ft² of Grade A urban logistics space on a former automotive component manufacturing site in Erdington, Birmingham.
The scheme, to be called Torque, is set to be comprised of 22 leasehold units ranging in size from 4,500ft² to 60,000ft². It has a projected gross development value of £77m, according to Chancerygate.
Chancerygate and Bridges are reportedly in discussions with two parties on the sale of two prominent plots of land to the front of the estate, which neighbours occupiers like Jaguar Land Rover and Volvo.
Targeting a minimum of EPC ‘A’ and a BREEAM ‘Excellent’ certification, all units at Torque are set to be fitted with electric vehicle charging points and rooftop solar panels. Chancerygate notes that all the units are being ‘constructed from high-performance building materials to reduce CO2 emissions and occupier operation costs’.
Chancerygate development manager Rob Watts said: “There is unsatisfied demand from SME occupiers in Birmingham and across the West Midlands for high-quality, sustainable urban logistics units in prime locations. Torque will aim to satisfy this through providing flexibly sized, high-specification space on what is regarded as one of the city’s most prominent sites.
“Our proposed plans will regenerate a redundant building into new Grade A accommodation which will be of interest to a range of prospective occupiers. We look forward to working with Birmingham City Council and stakeholders to bring forward this much-needed highly specified development.”
Guy Bowden, partner at Bridges Fund Management, added: “We hope to transform this disused building into high-quality, highly sustainable logistics units that can support new jobs and boost the local economy.
“Erdington is an ideal location for this kind of development, and we believe these units will be attractive to a wide variety of SME occupiers.
“Our focus on sustainability is key to this: it enables us to offer occupiers lower running costs – thanks to smart design and on-site renewables – while also helping them achieve their own ESG goals through lower emissions.”
Agents for Torque are Knight Frank and Gerald Eve.
