UPS has leased 152,500 sq ft at IM Properties’ Birch Coppice Business Park near Tamworth, Staffordshire.
The logistics giant has taken plot 2 on a 15-year lease at a rent of £6.15 per sq ft.
Following the completion of similar deals to DAU Draexlmaier and Bunzl, close to 500,000 sq ft has been let at Birch Coppice in the last 18 months prior to practical completion.
Kevin Ashfield, senior development director at IM Properties, said: “There was strong demand for this unit, as demonstrated by the agreed rent, which we believe to be one of the highest achieved in the region, driven by both the quality of the location and lack of availability.
“Our decision to commit to this speculative development means that the building will be completed within the timescales required for the occupier, emphasising that few occupiers can afford to wait for design-and-build solutions.
jack.sidders@estatesgazette.com
