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Barberry starts 2020 with speculative £8m development

Commercial property investor and developer Barberry Group is set for a strong start to 2020 when it breaks ground and starts construction of a £8 million warehouse in Staffordshire at one of the region’s key logistics hubs.

Barberry is speculatively developing a 64,000 sq ft industrial unit at Lakeside Business Park, Blakeney Way, Cannock, bringing much-needed investment and jobs to the region. The 3.5-acre site has been acquired from Staffordshire County Council and Cannock District Council. Local Growth Fund intervention from the Greater Birmingham and Solihull Local Enterprise Partnership (GBSLEP) supported the ground treatment works required to enhance this prime employment location.

Barberry has secured detailed planning permission and appointed main contractor Benniman who will start on site in January. The development is expected to reach practical completion in summer 2020.

Barberry development director Jon Robinson said:

Barberry64 is another high quality warehouse development being delivered by our team and we’re excited to see work start on site in the new year. We are confident our speculative development will cater for several occupier requirements live within the market, providing them with a headquarters building in an excellent location. We hope to generate a great deal of interest, giving occupiers the opportunity to purchase or lease this building.”

He added:

With the acquisition of this site in Cannock, we now have more than 2.9m sq ft of industrial and warehouse developments in the pipeline.”

Mark Winnington, Staffordshire County Council Cabinet Member for Economic Growth, said:

Barberry’s acquisition and development of this final plot of the Kingswood Lakeside Business Park is a significant milestone for site and the wider area. It’s one of our flagship sites and was constructed by the county council.

The quality and success of this final plot development, as with the wider business park, underlines the benefit of close cooperation between the public and private sectors. It is further demonstration of how we’re continuing at pace with our economic growth programme in Staffordshire.”

Nick Oakley, head of property finance at Frontier Development Capital, said:

We are delighted to support Barberry in bringing forward this key employment site. The West Midlands Combined Authority, via its CIF Loan Fund, has enabled the accelerated development of the new industrial unit which will create increased employment and inward investment into the West Midlands region.”

Jon added:

We have worked hard and invested heavily to create a Barberry brand in the industrial/logistics market providing high quality buildings to an institutional specification and it is therefore hugely satisfying to know that investors recognise the quality of our developments.”

The location of the site at Lakeside Business Park offers occupiers excellent connections to the UK motorway network, with immediate access to the M6 Toll Road, the M6, M42, as well as the A5 and A34.

Barberry was recently recognised as the Commercial Developer of the Year at the prestigious West Midlands Property Awards. It clinched the title in an exceptional year, which saw a number of major developments come to fruition.

Turnover increased from £18.8million to £41.5million, largely due to the successful execution of business plans in key markets within the mid-box Industrial/logistics sector, student accommodation sector and strategic land.

Highlights of the year include the successful completion of Barberry 46 & 65 industrial/warehouse units in Birmingham, phase one speculative development of industrial/warehouse units at More + Central Park Bristol, the start of a speculative development of a 71,800 sq ft industrial/warehouse unit in Daventry, the delivery of a 725-bed student accommodation development in Coventry, and the sale of 165 acres of consented land.

Barberry currently has a 2.9 million sq ft development pipeline with a Gross Development Value (GDV) of more than £295 million. The company is also delivering student accommodation and residential schemes worth in excess of £200 million and has 528 acres of strategic development land, with a development land value of £262 million, across 11 sites under its control.

ENDS