IM Properties unveils £50m speculative pipeline

IM Properties has revealed its plans to deliver a £50m pipeline of speculative property developments in the West Midlands.

The company will construct 500,000 sq ft of industrial space across five units at Birch Coppice Business Park in North Warwickshire and The Hub in Witton. Work is underway at both sites with the first unit at Birch Coppice scheduled for completion in February 2016.

The properties will measure between 47,250 sq ft and 282,000 sq ft and will be financed by IM's existing resources.

"There is a strong demand for warehousing and industrial units within the Midlands with nowhere near enough quality stock available to satisfy this appetite and we have chosen to develop these units as a direct response to this shortage," said Kevin Ashfield, senior development director at IM Properties.

"In the last two years we have developed nearly 600,000 sq ft on a speculative basis and every unit has been let prior to practical completion."

Source: Insider Media

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