Prime Box, a new name on the UK’s commercial property scene has targeted Birmingham for its first scheme – and secured a pre-let even before the marketing campaign has been fully rolled out.
Prime Box has acquired a 3.4-acre brownfield site in Hamstead – bordering Birmingham and Sandwell – backed by the Industrial Property Development Fund, and is looking to deliver c.80,000 sq ft of new industrial space.
If negotiations proceed as expected and planning permission is granted, construction will begin during Q3 2022.
KWB’s industrial director, Kenny Allan, says there’s been no speculative development in the area for decades, and believes the remaining land will prove equally attractive to local and regional businesses, trade counter operations or for urban logistics uses.
Kenny said: “It’s a sign of the pent-up demand for new leasehold industrial space that a self-storage occupier was so quick to come forward, and complete the agreement.
“We’ve now got a great location between the new Lidl store on one side, and the new tenant on the other, and given that we’re just four miles out of the town centre, occupiers can serve Walsall and the Black Country as easily as Birmingham.
“Prime Park is also very well connected, with the A34 taking you either into town or out to J6 of the M6, and Hamstead train station taking you into Birmingham New Street or Walsall is just a five-minute walk away.”
Prime Box may be a new name, but it’s an enterprise involving two long-established specialists in industrial and logistics markets and the funding sector.
Co-founder Richard Lord – pictured here – was formerly a director at CBRE and Doherty Baines, before working in Chancerygate’s development team on sites across the UK, with JV partners from both the private sector and funding institutions.
Fellow co-founder Toby Clowes worked previously at Parlison Properties and then Arland Property, where he specialised in large and complex commercial property developments nationwide.
Richard said: “We’re pleased to be able to bring inward investment to the area and hope to commence construction on site in Q3 2022. KWB are joint agents on the scheme, with Mark Fitzpatrick of Johnson Fellows.”
Prime Box is now looking for further industrial and logistics sites, ideally of between two and 20 acres, across the UK for speculative development, and existing buildings for refurbishment or repositioning.