Property News Hatrick of deals for Colliers International

Agents instructed on Birch Coppice Business Park

IM Properties has instructed Colliers International and CB Richard Ellis as agents on Birch Coppice Business Park, in Dordon, North Warwickshire. The duo will work alongside incumbent agent Eagleton & Co, who has represented IM on this scheme since its inception.

Colliers International industrial agency teams in Birmingham have been instructed to market the 400-acre development, which is situated half a mile from junction ten of the M42 motorway, near Tamworth.

Phase one of the development comprises 120-acres/48-hectares, of which just ten acres of development land remains available. Tenants include CEVA Logistics, Euro Car Parts, Severn Trent Services, TNT Logistics and UPS.

Phase two of the development, which has received outline planning permission from North Warwickshire Borough Council, will provide a further 124-acres, comprising up to 2,000,000 sq ft/186,806 sq m of warehousing accommodation.

In August 2010, online grocer Ocado announced that it would be moving to the site. The company, which delivers food for High Street retailers such as Waitrose, is planning to build a £200m distribution hub on 35-acres of land at the business park.

Richard Lawrence, director and head of industrial agency at Colliers International in Birmingham, said: “It’s no surprise that Birch Coppice is continuing to attract large blue chip companies. The development is situated in what is probably the UK’s prime distribution location, just off junction 10, near Tamworth, within the distribution ‘Golden Triangle’.

“Furthermore, a big attraction for occupiers is that phase two has direct on-site access to the Birmingham Intermodal Freight Terminal (BIFT), operated by Roadways Container Logistics, which is a major selling point for the type of companies we are trying to attract.”

Richard Meering, senior director in the industrial agency team at in Birmingham, said: “Birch Coppice has already enjoyed significant success, with phase one of the development almost fully occupied. With phase two having been granted outline planning permission for an additional two million sq ft, the development will provide further occupational opportunities for tenants who require a prime business location.

“As the Ocado deal demonstrates, demand for distribution space is far from receding. Retailers, in particular food and discount retailers, have dominated take-up in the last year or so and look set to continue driving occupier demand.

“What’s more, occupiers are increasingly favouring new build space over second hand accommodation, with some of the largest deals in recent times having been pre-lets.

Requirements are also becoming increasingly bespoke. This is leading to increased design and build activity, which is good news for developers.”