Insulation giant Rockwool is in talks to acquire 1m sq ft of industrial space from Birmingham City Council for a major new manufacturing hub.
The Denmark-based manufacturer of sustainable, non-combustible stone wool insulation is understood to be in advanced negotiations to buy a slice of land at Peddimore in Sutton Coldfield. The site, known as Zone B, has consent for up to 1m sq ft of light industrial and manufacturing space.
The wider site extends to around 175 acres, of which 91 in Zone A have been handed over to IM Properties for development. It was chosen as development partner by the council in 2018.
The proposed 2.3m sq ft employment hub is already home to a £500m Amazon fulfilment centre.
The acquisition of the site for Rockwool comes as the firm expands its presence in the UK. The group has just bought UK-based Wetherby Buildings Systems in what it says is a “strategic step” as it grows its footprint in the country.
According to its latest full year accounts, Rockwool turned over more than €3.6bn (£3bn) in 2023.
CBRE, Colliers and Avison Young are advising on Zone A of the site; Savills is advising on Zone B.
Send feedback to Akanksha Soni
Follow Estates Gazette
