Construction work is set to begin on a Grade A self-storage unit on a Solihull industrial estate for Ducalian Capital, a major private equity firm.
Ducalian Capital is to take occupancy of a new build 21,500 sq ft unit on Cranmore Park, in Highlands Park, after agreeing terms with Graftongate.
Johnson Fellows and BNP Paribas Real Estate acted for developer Graftongate and the private landowner.
The site is also set to deliver a further 53,000 sq ft speculative development in three neighbouring buildings, comprising a 10,000 sq ft unit adjacent to Travis perkins, plus two units of 8,000 sq ft and 35,000 sq ft alongside Ducalian Capital’s self-storage facility and neighbouring occupier DHL.
Developer Graftongate is expected to commence on site in March.
Mike Price, partner and head of industrial agency at Johnson Fellows, said Ducalian Capital is the first occupier to commit to Highlands Park.
“As the developer’s and landowner’s agents, we are very pleased to see that such a high caliber company will be opening an important facility in Solihull,” he said.
“The site provides a fantastic business environment and benefits from swift transport routes, as well as a highly educated and efficient local workforce.”
Jamie Hockaday, director of Graftongate, the specialist industrial and logistics developer delivering the design and build project, added: “This promises to be an excellent scheme on a well-positioned site that is close to the motorway network.
“We will be working very closely with Ducalian over the coming months as the development takes shape to make sure that the facility meets its needs perfectly.”
James McCulloch, investment director at Ducalian Capital, added: “Solihull and the surrounding catchment area has the perfect demographics to support a successful storage business and I look forward to bringing this much needed service to the local community,” he said.
Jones Lang LaSalle acted for Ducalian Capital.
Johnson Fellows, which celebrated its 30th anniversary last year, has established itself as one of the region’s leading independent chartered surveying practices, specialising in property management, professional services, building consultancy and more recently valuation, rating and industrial agency. In 2014, it took over Salway Bradbury, based in Solihull, consolidating further its reputation on both the regional and national stage.