Warwick District Council has given detailed planning permission for three warehouse distribution units of 350,000, 165,000 and 60,000 sq ft respectively.
M&G Real Estate acquired the 29-acre site next to Coventry airport earlier this year and has committed more than £50m to the speculative development. Rigby Group and Evander Properties are acting as development manager.
Paul Crosbie, head of logistics and industrial at M&G Real Estate, said: “Our commitment to speculatively develop these prime units underlines our belief in this West Midlands location as a core UK logistics hub where there is a diminishing supply of Grade A accommodation and robust demand from a variety of industrial occupiers.”
Andrew Cox of Rigby Real Estate said: “Imperial Park is a major scheme which will transform an unused area of land, giving it a renewed economic relevance as a modern business hub bringing jobs and investment to Coventry and Warwickshire, and the wider regional economy.”