IM Properties has won permission from Birmingham city council for an 18-acre development that will be the new home of Birmingham’s Wholesale Markets.
The development site, at IM Properties’ The Hub in Witton, will include a 240,000 sq ft, purpose-built market building with associated support infrastructure.
IM Properties will now begin development of the bespoke facility, which is due to be completed in 2016.
The relocation of the Wholesale Markets, the largest combined wholesale food market in the UK, from Pershore Street will clear the way for Birmingham city council to begin delivery of its £500m, 34-acre mixed-use Smithfield Development.
IM Properties’ Richard Lawrence said: “The existing Wholesale Markets facility is more than 40 years old and no longer fit for purpose. Working with Birmingham city council we have secured what will be the next successful chapter for these vital markets.”
Construction is underway at The Hub on the delivery of two speculative industrial units on the site, which were acquired by IM Properties in 2013. Totalling 110,230 sq ft, Hub 54 and Hub 55 are due to be completed in Q1 2016.
The site has the capacity to provide 1.6m sq ft of employment space and create 2,100 jobs. Existing occupiers include Laidlaw Interiors, IMI, Timet and Iron Mountain.
IM Properties were advised by Savills, Knight Frank and CBRE, who act as joint agents on the scheme.
