IM Properties to spec build in UK

UK developer IM Properties (IM) will undertake the first speculative development seen in the UK logistics sector for five years.

IM will build two warehouses totalling 31,000 m2 at the Birch Coppice Business Park in Warwickshire.

Construction work is set to begin at the start of July and will be completed in January 2014.

The project will be the first speculative development of more than 9,300 m2 seen in the UK logistics sector since 2008.

IM development director Kevin Ashfield believes there is significant demand in the UK logistics sector. ‘There is a severe shortage of good quality stock both regionally and nationwide, and against this backdrop of decreasing availability we are seeing increasing occupier demand. We believe the time is right for speculative development,’ he said.