Kennedy Wilson to add new industrial units to UK portfolio

Kennedy Wilson to add new industrial units to UK portfolio

Development has commenced at two new industrial units totaling more than 250,000 square feet at Vaughan Park, a 28-acre industrial estate in the Black Country, West Midlands, on behalf of a commingled fund managed by Kennedy Wilson.

Vaughan 153 will comprise 153,000 square feet of Grade A space, including 143,000 square feet of ground floor industrial warehouse space, with 800 kVA power supply, as well as 10,000 square feet of offices on the first and second floors. The property will also feature 16 dock level loading doors and 147 car parking spaces, including 15 electric vehicle charging points.

The second unit, Vaughan 102, will include 96,000 square feet of warehouse space on the ground floor, with 600 kVA power supply, 6,000 square feet of office accommodation on the first floor, 10 dock level loading doors and 100 car parking spaces, including ten electric vehicle charging points.

The units will add to Kennedy Wilson’s growing industrial portfolio, which totals 10.6 million square feet, and be built to the highest sustainability and energy efficiency standards, targeting BREEAM ‘Excellent’ and an EPC rating of ‘A’. Initial grounds works are underway with practical completion expected in December.

The property benefits from excellent arterial connectivity, with direct access to the A457 Tipton Road, near to Junction 2 of the M5, providing links to the UK’s wider motorway network.

Magrock has been appointed as the construction contractor, with Tungsten Properties instructed as the development manager.

Rob Ferguson, Senior Asset Manager at Kennedy Wilson, said: “There is a severe shortage of new Grade A industrial and warehouse space in the Black Country and wider West Midlands region to meet the strong levels of demand we are currently seeing from the manufacturing and logistics sectors.”

Ashleigh Hayes, Associate Development Director at Tungsten Properties, added: “We’re pleased to be on site and forging ahead with the construction of the two new units at Vaughan Park and delivering much needed industrial space for businesses in the area.”

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