Work starts on new industrial units

Vaughan 153 will comprise 153,000 sq ft of Grade A space, including 143,000 sq ft of ground floor industrial warehouse space, with 800 kVA power supply, as well as 10,000 sq ft of offices on the first and second floors. The property will also feature 16 dock level loading doors and 147 car parking spaces, including 15 electric vehicle charging points.

The second unit, Vaughan 102, will include 96,000 sq ft of warehouse space on the ground floor, with 600 kVA power supply, 6,000 sq ftt of office accommodation on the first floor, 10 dock level loading doors and 100 car parking spaces, including 10 electric vehicle charging points.

The units will add to Kennedy Wilson’s growing industrial portfolio, which totals 10.6 million sq ft, and be built to the highest sustainability and energy efficiency standards, targeting BREEAM ‘Excellent’ and an EPC rating of ‘A’. Initial grounds works are underway with practical completion expected in December.

The property benefits from excellent arterial connectivity, with direct access to the A457 Tipton Road, near to Junction 2 of the M5, providing links to the UK’s wider motorway network.

Magrock has been appointed as the construction contractor, with Tungsten Properties instructed as the development manager.

Rob Ferguson, senior asset manager at Kennedy Wilson, said: “There is a severe shortage of new Grade A industrial and warehouse space in the Black Country and wider West Midlands region to meet the strong levels of demand we are currently seeing from the manufacturing and logistics sectors.”

Ashleigh Hayes, associate development director at Tungsten Properties, added: “We’re pleased to be on site and forging ahead with the construction of the two new units at Vaughan Park and delivering much needed industrial space for businesses in the area.”

CBRE and Darby Keye have been appointed joint letting agents on Vaughan 153 and Vaughan 102.

Luke Thacker, associate director in CBRE’s industrial and logistics team, said: “Vaughan Park has already proven popular with occupiers, with the first five units developed at the scheme fully let to a mix of tenants, and DPD’s 70,000 square feet purpose-built parcel hub is fully operational.

“Given the scarcity of supply in the region, particularly units of 100,000 square feet and above, coupled with the properties’ high specification and green credentials, we’re expecting strong interest in both Vaughan 153 and 102.”

James Darby, director at Darby Keye, added: “The availability of skilled labour is now in short supply across the country, so occupiers are keen to base themselves in locations where there is an attractive labour pool. With the Black Country being well known for its extensive range of skilled labour, these new buildings offer a great opportunity for both local occupiers seeking to retain staff and national occupiers seeking a strategic new base.

“In addition, the majority of new warehouse and manufacturing space in the Black Country has been delivered around Wolverhampton, Junctions 9 and 10 of the M6 and Junctions 1 and 2 of the M54. With Vaughan Park strategically located off Junction 2 of the M5, these market leading units offer a unique opportunity to acquire modern warehouse and manufacturing space in the south of the region.”