Coltham Developments is expanding its portfolio in and around Birmingham with the development of Ringway Business Park, a 140,000 sq ft high-profile production and distribution project within the city centre core.
The firm's flagship scheme - in Richard Street, just off the Aston Expressway - is under way with the speculative initial phase of two units each of 25,000 sq ft , which will be ready for occupiers to move in by October.
This latest development follows the completion of a 55,000 sq ft building for light industrial or distribution use at Neopark, Tyseley, where a 41,000 sq ft factory for GEI Galley Systems was also developed and the investment subsequently sold. According to Mike Hargreaves, managing director of Coltham Developments, a number of local firms and national companies seeking a Birmingham base have registered interest in Ringway now that the steelwork on the first two units is well under construction.
Phase two of the scheme offers the opportunity of a single building of up to 90,000 sq ft.
"We have always considered Ringway as one of the most significant Birmingham schemes as it is the largest remaining site close to the city centre," said Mr Hargreaves, seen on site with Stuart Mair and Martin Guest, of Insignia Richard Ellis, and Carl Durrant and David Binks, of joint agents King Sturge.
Both sets of commercial agents are upbeat about letting prospects for the eight-acre development - one of the first schemes to be assisted by a #12 million investment funding package which Coltham has agreed with Allied Irish Bank (GB).
Mr Guest said: "The site is ideally positioned for motorway access. The quoting rent is #5.95 per sq ft and early enquirers include local manufacturers and distributors who serve customers in and around the city."
Carl Durrant of King Sturge said the area has already attracted operators such as Parker Merchants and CP Supplies who were trading from adjoining premises, also developed by Coltham. "We anticipate further demand from such occupiers," he said.