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Hermes Investment Management is set to win permission for 130,000 sq ft Birmingham warehouse

The application for land at Erdington Industrial Park is currently used as a temporary car park.

The application comes as pressure on the strictly limited supply of Birmingham development land grows.

A shortage of industrial units in the city is holding back the logistics sector and the economy say Birmingham specialists KBW. The firm says that the lack of development land is one of the major obstacles stopping the building of more units suitable for small and growing businesses.

“Occupiers are being sold short by this lack of stock. It is having a negative impact on many businesses as they are not able to grow efficiently under one roof. Medium sized companies are not having the opportunity to upgrade to new bigger units, and this is then not freeing up the smaller side of the market to allow newer businesses to flourish,” KWB director Kenny allan said.

“For those companies that can find new larger premises, the shortage of units continues to push up rents. We expect that rents for new Midlands’ medium-sized industrial units will continue to rise above £7 a sq ft  in the next few months, with some better-quality units at the smaller end of the market already in excess of £8 a sq ft. 

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