Login to UKBP
Commercial Property News
Negotiations over £50 million Birmingham business property
A £50 million commercial property is to be created a Longbridge, Birmingham, at a site previously home to MG Rover.
The land will be used for the construction of a huge food store, although the so-called big four supermarket chains have yet to strike a deal, the Birmingham Mail reports.
Measuring some 80,000 sq ft, the business property will create hundreds of jobs in the area.
Bill Oliver, chief executive of site developers St Modwen, said: "It is going to be £30 million to £40 million worth of investment on our terms and they will have to kit it out, which may be another £10 million."
Once an occupier is found, the commercial property could be open to the public in 2011-12, the firm revealed.
St Modwen specialises in regeneration and has a number of offices across the UK, allowing the company to work alongside public and private sector organisations.
Posted by Sarah Smith
The land will be used for the construction of a huge food store, although the so-called big four supermarket chains have yet to strike a deal, the Birmingham Mail reports.
Measuring some 80,000 sq ft, the business property will create hundreds of jobs in the area.
Bill Oliver, chief executive of site developers St Modwen, said: "It is going to be £30 million to £40 million worth of investment on our terms and they will have to kit it out, which may be another £10 million."
Once an occupier is found, the commercial property could be open to the public in 2011-12, the firm revealed.
St Modwen specialises in regeneration and has a number of offices across the UK, allowing the company to work alongside public and private sector organisations.
Posted by Sarah Smith
Tue, 6th Jul 2010