The Midlands-based contractor MCS Group has secured a 7.4 million contract to deliver a 121,175 sq ft speculatively developed unit in the Black Country.
Appointed by leading property developer Opus Land, MCS have been tasked with building the ‘XPANSE 120’ development at Seven Stars Road in Oldbury near West Bromwich.
Commenting on the deal and development is Keir Edmonds, MCS Group Managing Director, who said: “This is another impressive development from Opus Land and we are of course delighted to be involved. We’ve already worked very successfully with the company on several major projects, including three large warehouse units in Cannock.
“The development at Oldbury will deliver a Grade A warehouse unit in an extremely convenient location, near junction 2 of the M5 and not far from the M6. There is a severe shortage of high-quality stock across the West Midlands, so I am confident there will be many companies interested in this new Opus Land development.”
Opus Land and Palmer Capital have acquired the rare large-scale 6.35-acre site, with construction expected to start sometime this month – practical completion in Q2 2020.
The new unit will feature offices on the first and second floors as well as 125 parking spaces and a secure yard.
Located just off Junction 2 of the M5, the strategically located vacant site will bring investment and new jobs to the region; and is being funded by Palmer Capital Development Fund IV, a venture managed by Palmer Capital that is exclusive to clients of CBRE Global Investment Partners (CBRE GIP).
The project will also receive funding from the West Midlands Combined Authority’s (WMCA’s) Collective Investment Fund, which is a commercial development ‘war-chest’ designed to create jobs and spur growth in the region.
Tom Halcarz, Head of Construction Consultancy at Opus Land, said: “We are delivering a high-quality warehouse unit at this fantastic site in Oldbury and MCS Group were the ideal choice as construction partners in the project.
“There is a huge requirement for industrial accommodation in the heart of the Black Country. We will start construction speculatively very soon, with completion due in Spring 2020, knowing that units of this size and location are in very high demand. We will offer a rare, flexible approach to occupiers seeking either freehold or leasehold options in new-build Grade A facilities.”
Featured Image: An artist’s impression of the XPANSE 120 development at Oldbury, near West Bromwich.