Midland developer IM Properties has let the second of its large speculatively-built industrial units at Tamworth’s Birch Coppice Business Park.
The 169,000 sq ft Unit 2 has been let on a 15-year lease at £5.75 per square foot to DAU Draexlmaier Automotive UK, a supplier of electrical components to the motor industry.
The company will use its new premises to service an existing contact with Jaguar Land Rover.
This letting means that both of the spec-built units at Birch Coppice, a 400 acre rail-served site, have been let prior to their completion, with the 165,000 sq ft Unit 1 having been previously secured by distribution and outsourcing specialist Bunzl.
Coleshill-based IM Properties was the first developer to begin speculative development of distribution units over 100,000 sq ft since the start of the economic downturn in 2008, when it began construction of the two logistics units totalling 334,500 sq ft in July 2013.
Kevin Ashfield of IM Properties said: “The deal to Draexlmaier was signed within seven days of agreeing heads of terms, emphasising the lack of available stock and the need for occupiers to act quickly to source their property requirements.
“We are extremely pleased to have let both units prior to their practical completion, which highlights the strength of Birch Coppice as a location, IM Properties’ reputation for delivering high quality, flexible industrial developments and is further evidence of the improving economic sentiment.”
