Speculation is mounting that Bunzl is to sign up for a 160,000 sq ft pre-let at the UK‘s first speculative warehouse development since the recession.
Bunzl is understood to be in talks about taking warehouse space at IM Properties‘ new development at Birch Coppice.
Last month IM Properties announced it would start speculative development of two units, a total of 334,500 sq ft. It is the first speculative warehouse development in the UK since 2009.
The Birch Coppie site, close to the M42 in north Warwickshire, already includes occupiers Ocado, UPS, Volkswagen Group, Euro Car Parts and Roadways Container Logistics.
In April Bunzl group revenue in the first quarter has increased 10% compared to the same period last year due to underlying revenue growth of about 2%, with all of the business areas showing growth, and the positive impact from acquisitions
They revealed the third in a series of acquisitions with the purchase of Michael Davies and Associates Limited.
Neither IM Properties and Bunzl responded to ShD’s request for an interview.