Plans in for major West Midlands logistics hub
Oxford Properties Group and Logistics Capital Partners (LCP) have formed a new investment joint venture, to acquire a 734-acre site near Birmingham, which they will develop into a major new logistics hub with an associated rail freight terminal known as West Midlands Interchange.
Oxford and LCP will jointly invest £1bn to bring forward the project over a number of years. It is said that the West Midlands Interchange will be a technologically advanced and environmentally sustainable development, which meets modern occupiers’ efficient operational and environmental requirements.
Planning consent has already been secured by the vendors, which allows for the delivery of around 740,000m2 of prime logistics space and provides flexibility around the project timeline and scale of units. Infrastructure works are expected to commence in the first half of next year with the first buildings starting on site in 2022 ready for occupation in 2023.
The site can accommodate new warehouses ranging in size from 18,500m2 to over 90,000m2, with building heights up to 30m. This scale and flexibility will create space for some of the most efficient operations in the country, maximising cubic storage capacity and the possibility for occupiers to deploy the latest technology.
West Midlands Interchange is centrally located in the UK, northwest of Birmingham in the key West Midlands logistics corridor and will deliver significant economic benefit to the region through the creation of 8,500 jobs and a further 8,100 indirect jobs.
As part of wider infrastructure improvements, Oxford and LCP will build a new link road to connect the A5 and A449, enhancing the resilience of the local road network to improve access to the site.