A clinical and pharmaceutical supplier has signed a major new warehousing deal in Birmingham.
Polar Speed will open a new storage and transportation operation at The Hub, in Witton, after agreeing a 15-year lease on 100,529 sq ft of space with landlord IM Properties.
The company, which is headquartered in Bedfordshire and is part of the global UPS Healthcare group, provides a one-stop shop for the clinical and pharmaceutical supply chain.
Its new Birmingham facility will be temperature controlled and have space for 8,000 pallets as well as storage capacity for its clients.
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The letting leaves only two vacant units at The Hub which is also home to Birmingham’s Wholesale Markets which relocated out of the city centre in 2018.
Other tenants include TNT, Kitchencraft and Argos.
Doaa Fathallah, senior vice-president of Polar Speed, said: “Polar Speed has undergone a tremendous period of growth while providing innovative solutions to bring our clients closer to their patients.
“This new hub is a next step in ensuring that we are proactively anticipating client’s needs for capacity.
“We will continue to make further investments in facilities and technologies in order to provide best-in-class service to our clients.”
Richard Sykes, development manager for IM Properties, added: “The new hub provides final-mile delivery solutions for Polar Speed’s customers, less than three miles North of Birmingham city centre.
“The letting will be welcomed by the city and the region, attracting significant inward investment from Polar Speed at a time when the local economy is looking for a much-needed boost.”
Property agencies CBRE, Darby Keye, Savills and Cushman and Wakefield acted on the deal.