A 20-acre site on the Park Farm North industrial estate in Redditch has been earmarked for the construction of 330,000 sq ft of industrial and warehouse space.
Known as Velocity 42, units will be offered in a range of sizes from 39,000 to 141,000 sq ft.
Work is expected to start on site in summer 2018 with practical completion during 2019.
The development is part of a joint venture between St Francis Group and the Richardson family, owners of the Merry Hill shopping centre and the partnership will speculatively develop both this site and a second one in Kettering.
Both sites were originally acquired by St Francis as brownfield sites and were subsequently fully cleared by its group sister company DSM Demolition.
Full planning consent has since been secured for industrial and warehouse development.
Gareth Williams, development director at St Francis Group said: “This is an exciting partnership between two like-minded businesses who are committed to developing a range of high quality warehouse and industrial units in key strategic locations.
“We have invested in these sites to create development ready opportunities and now with this announcement we will deliver much needed space into strong regional markets where the supply is currently limited.”
Mark Watkins director at Richardson added: “We are very pleased to be partnering with St Francis on the development of both sites which offer outstanding locations for logistics and industrial type requirements in key regional markets presently starved of supply.”
The site is situated between the Studley Road and Old Forge Drive with the entrance off the latter, virtually opposite the pond on the other side of the road.
For more information about each development visit www.velocity42.co.uk
