It has been revealed that Naismiths will be involved in the rebirth of a former factory site in Birmingham. A landmark former factory will be redeveloped with the help of the National commercial property and construction consultancy business. The 46,000 sq. ft. industrial unit that is located on the site of the old Tucker Fasteners factory will have further due diligence carried out on it by Naismiths. The site is situated at Walsall Road, Perry Barr, where the old factory used to stand. The consultancy business has been instructed to carry out the work by Finance Birmingham on the site that has been purchased by Barberry Developments. The Development company has bought the 2.5-acre site and is set to start construction of a new unit. This work is meant to start later this year and it is predicted that the work could create about 75 jobs.
The old Tucker Fasteners factory had stood on the site since 1903, however it closed four years ago. The factory used to produce fasteners as well as other metal products. The factory was also involved in building fighter planes over the course of World War II. The new development of this site is expected to cost £5.5 million and has already been backed with a £2.9 million funding loan that has been awarded by the West Midlands Combined Authority.
This development is expected to provide a boost for the local area, as the brownfield site is in a prominent location on the A34 and is within minutes of the Birmingham City centre as well as the M6. The CIF is managed by Finance Birmingham and aims to provide short-term loans to private sector developers in order to help with accelerating speculative construction schemes. It is thought that the development will help improve the mid-sized industrial and warehouse sector as well as the Birmingham area too. When the work is complete it will provide the occupiers of the unit with high quality accommodation that will be needed to allow for expansions, as well as encouraging other businesses to relocate to the West Midlands from further afield.
