Site enabling works have commenced for the construction of Staffordshire Pension Fund’s 122,575 sq ft industrial warehouse Vernon 122, in Wolverhampton.
The unit, which should reach practical completion in Q3 2023, has been designed to ensure that the fabric and form of the space encompasses low energy sustainability principles. A BREEAM Excellent rating is being targeted and it is hoped the building will also be carbon neutral in operation.
Sam Robinson, director, industrial and logistics at Colliers, joint agent on the scheme, said: “Set within an already established development, Vernon 122 has been carefully considered to guarantee it has longevity, being constructed with sustainability as a key part of the design and is based on market leading specification, which will ensure that it appeals to a variety of tenants.”
James Bird, partner at joint agent Bulleys Chartered Surveyors, added: “The area also has a strong labour pool, with over 550,000 people of working age based within a 30-minute drive time and approximately three million people living within a 20-mile radius of Wolverhampton. These insights, coupled with the shortage of industrial property availability will stand Vernon 122 in good stead to be well received by the occupier market.”
Colliers Global Investors is managing the development on behalf of the pension fund.
