Development has commenced at Vaughan Park, Tipton, West Midlands where Tungsten Properties, acting as development manager for fund and owner Kenney Wilson, will deliver two new industrial units totalling more than 250,000 sq ft (23,225 sq m).
Vaughan 153 will comprise 153,000 sq ft of Grade A industrial and logistics space, built to 15 metre eaves which will include 10,000 sq ft of offices, 16 dock level loading doors, 147 car parking spaces and 15 electric vehicle charging points.
The second unit, Vaughan 102, built to 12 metre eaves, will include 6,000 sq ft of office accommodation, 10 dock level loading doors and 100 car parking spaces, including ten electric vehicle charging points.
Both units are targeting BREEAM ‘Excellent’ and an EPC rating of ‘A’.
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 and practical completion is expected in December 2023.
Ashleigh Hayes, associate development director, Tungsten Properties said: “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 now 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.”
Find out more via Tipton's project page.
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