Plans approved for £35 million urban logistics scheme, creating up to 150 jobs
Up to 150 jobs are to be created with the opening of a new £35 million logistics development in Worcestershire.
Plans have been approved for a 133,500 sq ft sustainable Grade A urban logistics development in Redditch which is expected to create up to 150 new jobs once completed.
The Aurora Park development is being delivered by a joint venture between urban logistics property developer and investment manager Chancerygate and global real estate investor Hines.
Located on a 6.4-acre site on North Moons Moat industrial estate three miles from Redditch town centre and 15 miles from Birmingham city centre, it will comprise nine leasehold units ranging from 7,685 sq ft to 22,055 sq ft.
Work is set to start on site this summer and it is expected to be completed in the third quarter of 2027.
Units at Aurora Park will be constructed using high-performance building materials to reduce CO2 emissions, with the development targeting EPC A and BREEAM Excellent ratings. They will have dedicated yards and car parking and fully-fitted first floor offices. There will also be air source heat pumps for heating and cooling, electric vehicle charging points and roof-mounted solar panels to provide occupiers with affordable green energy.
Amazon, iForce, Lear Corporation and AMCO, and a broad mix of regional and local businesses, are located nearby.
The joint venture is being funded by Hines European Real Estate Partners III (HEREP), which has more than £1.3 billion of equity commitments.
Chancerygate development manager, Rob Watts, who is based in the company’s Birmingham office, said: “We can now move forward with Aurora Park in a part of the West Midlands where there is strong demand for modern, sustainable business space.
“There is a clear requirement in Redditch and the wider region for strategically-located accommodation that meets the needs of a broad range of businesses.
“Aurora Park will provide high-specification units in an established commercial location with excellent connectivity, while also creating up to 150 new jobs.”
Ross Blair, senior managing director at Hines, added: “Our partnership with Chancerygate is approaching its eighth year and during this time we have developed numerous urban servicing facilities in key regional locations across the UK, delivering over one million sq ft of workspace across eight schemes and we are actively looking to grow our pipeline this year.”
Founded in 1995, Chancerygate is the UK’s largest urban logistics property developer and investment manager and the only one operating nationwide. In the UK, it currently has around 2.2m sq ft of urban logistics space under construction or ready for development across 15 sites ranging from Leeds to Croydon.
The company also manages more than £700m of investment assets in the UK and Europe and its investment portfolio comprises more than 540 units totalling around 4.7m sq ft of commercial space.
As well as Birmingham, Chancerygate has offices in London and Warrington. The business is dedicated to creating high-quality, sustainable spaces and is expanding throughout Europe with offices established in Dublin, Madrid, Lisbon and Berlin.
M1 Agency and John Truslove & Co are acting as agents for the Aurora Park development.