Opus Land is to speculatively develop a £45m industrial scheme in Wednesbury, Birmingham.
Located near J9 of the M6, the development spans 25 acres and will offer 450,000 sq ft of industrial and distribution space, plus a 100-bedroom budget hotel.
Opus 9 has received £40m financial backing from Arlington Property Investors, and £5m from Advantage West Midlands.
The first 98,000 sq ft unit should be completed by next summer, and talks are underway with two potential occupiers, each looking for 100,000 sq ft.
Joint letting agents King Sturge and Golby Alboyne are quoting £5.50 per sq ft – a new high for the Black Country.
References: EGi News 24/11/05
