Parkhill Estates has launched a £50m, 470,000 sq ft industrial development in Moxley, West Midlands.
The development, known as a Iron Park, will include a 440,000 sq ft unit in the first phase, with potential for a further 30,000 sq ft in later phases.
A planning application for the first phase will likely be submitted by May 2018, which would put the scheme on track for practical completion by October 2020.
The company said it is prepared to proceed on either a speculative basis or off the back of a significant prelet – a high possibility considering the historic level of demand in the region, which hit 6.5m sq ft in 2017.
Sam Cornes, chief executive of Parkhill Estates, said: “Bringing forward sites such as Iron Park is Parkhill’s bread and butter.
“The launch of Iron Park has been the culmination of several years’ hard work and extensive technical planning.
“It is gratifying to be able to deliver the land back to economic use and we look forward to bringing Iron Park forward.”
JLL and Bromwich Hardy have been appointed as joint agents.
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