IM Properties has said it would carry out some of the largest speculative warehousing development for five years.
The West Midlands-based firm is to spec-build two sheds totalling 334,500 sq ft at its Birch Coppice Business Park in north Warwickshire.
Work on site will begin at the start of July and is due for completion in January 2014.
IM Properties development director Kevin Ashfield said: “We are pleased to be leading the way in large-scale speculative development.
“There is a severe shortage of good-quality stock both regionally and nationwide, and against this backdrop of decreasing availability we are seeing increasing occupier demand.
“Occupiers need certainty over deliverability and few companies can wait for a design-and-build solution.”
Existing tenants at Birch Coppice include Ocado, UPS, Volkswagen Group, Euro Car Parts and Roadways Container Logistics.
There has been no speculative construction of distribution units over 100,000 sq ft since 2008.
lisa.pilkington@estatesgazette.com
