The final building of stage one in London and Cambridge Properties’ (LCP) multi-million pound development of industrial units in the Black Country is now ready for occupation.
Bulleys and Lambert Smith Hampton (LSH), are busy handling inquiries for the building that measures nearly 42,000 sq ft at Prime Point on The Pensnett Estate in Kingswinford.
The popular development already hosts the following three major companies: International Piping Products (Europe), which develops pipes for the energy sector; ERIKS, Europe’s largest industrial services company; and Certas Energy, Britain’s largest independent distributor of fuels and lubricants.
James Bird, senior associate at Bulleys, said: “Prime Point is fulfilling a demand for exceptional quality units in this strategic location, and it’s great news that several major companies have already moved in.
“With the final unit now available, we expect competition to be strong to secure this valuable and high-quality space.”
Mr Bird said the final property at Prime Point, provisionally known as Building C, measures a total of 41,864 sq ft. This includes a warehouse of 37,955 sq ft, with offices and toilets on two floors making up another 3,909 sq ft.
He added: “The property is highly flexible and can be prepared to suit the needs of any tenant, with the potential for a third-floor expansion.”
Nick Burgess, managing director at LCP, said: “We invested in this ambitious speculative development because we knew there was a real need for premium quality industrial units of this size in the area.
“The quality of tenants on the estate is testament to how valuable this industrial development is in the region, and we are now working hard with Bulleys and LSH to attract strong occupiers for this final space.”
Prime Point sits within DY5, Dudley’s business and innovation enterprise zone, which qualifies occupiers for benefits, including up to £55,000 a year business rate discount over a five-year period.
It’s based on The Pensnett Estate, one of the largest secure business estates in Europe and home to 160 businesses in more than 2.4 million sq ft of commercial property.
The Black Country Local Enterprise Partnership has been supporting LCP with the Prime Point development.
Matthew Tilt, director at LSH, said: “LCP has invested significantly in supplying high quality units in a size range that is suffering from a severe lack of supply. Capitalising on this supply and demand imbalance has resulted in four successful lettings and leaves us with the last remaining unit.”