The final four bidders to reach the next stage of the procurement process to partner with Birmingham City Council and lead the development of the Peddimore employment site have been announced.
The site has attracted international interest from the biggest names in the industrial and logistics market following the launch of the OJEU procurement process in March this year.
The final four developers shortlisted are IM Properties plc, Peel Logistics Property, Prologis UK Ltd and Bericote who are partnering with Tritax Big Box REIT plc. The successful bidder will be announced in March 2018 at the MIPIM property festival in Cannes.
Owned by Birmingham City Council, ‘Peddimore, Birmingham’ offers the opportunity to bring forward up to 3m sq ft. (around 251,000 sq m on 71 ha) of outstanding market-leading manufacturing and logistics space, with access to a skilled workforce drawn from 2.6 million people living within just 40 minutes’ drive time. It is also less than half an hour’s drive from the Birmingham International and East Midlands airports, making ‘Peddimore, Birmingham’ one of the country’s most strategically well-positioned and connected development opportunities to emerge in the last five years.
Birmingham City Council Interim Leader Cllr Ian Ward said: “One of our biggest challenges is to create jobs and opportunities for a young and growing population and this much-anticipated development site is forecast to create up to 10,000 jobs, contributing £350 million to the local economy.
“I am delighted that ‘Peddimore, Birmingham’ has attracted such strong interest from the international industrial property market and we have such a strong shortlist of partners who want to deliver this fantastic opportunity for the city of Birmingham and the wider region.”
Waheed Nazir, Birmingham City Council’s Corporate Director for Economy, added: “I am grateful for all of the parties that expressed an interest in this exciting development opportunity. We have an extremely strong shortlist of potential development partners and I look forward to working with the successful bidder to deliver this exceptional opportunity.”