Why Coventry's 340-Acre Green Belt Release Means A Shed Load Of Opportunities
Coventry's 340-acre Eastern Green green belt release has reached a turning point, with a 36-acre industrial development close to the A45 expected to be the project's first fruits.
Developers Hallam Land Management Ltd. have submitted an outline planning application for up to 2,625 dwellings and commercial space, The Coventry Telegraph reports.
Council documents suggest that 36 acres of employment land adjacent to the A45 is to be brought forward in advance of the residential development. There will also be a new grade separated junction from the A45 to provide primary site access.
Planning statements submitted with the Hallam application assume 645K SF of B1 and B8 development with heights up to 23 metres.
The application comes as developers pile into the area. Within the last fortnight Goodman announced a 230K SF logistics scheme on a 10.3-acre site at Bermuda Park, Nuneaton.
Work is expected to start on the development in the spring of next year, with the warehouse available for occupation from December 2019.
The site is north of Coventry and 2 miles from Junction 3 of the M6.
Take-up of big sheds in the West Midlands remains strong, according to Q3 data. Colliers Industrial & Logistics Barometer showed 23M SF transacted so far this year, up 3.7% on the same period in 2017. Total annual take-up levels for 2018 are expected to reach 29.9M SF by the end of the year, well above the seven-year average (2010-2017) of 27.3M SF and just short of the most recent record high in 2016 of 32M SF.
