Revolution Park, Wolverhampton scheme completes
Trebor Developments and the Schroders Capital Real Estate team have reached Practical Completion at Revolution Park, on a 60,000 sq ft ‘build to suit’ parcel hub for DPD, owned by Schroders Capital UK Real Estate Fund (SCREF). The scheme has achieved record rental levels for the surrounding area and DPD have signed a long-term lease.
The site totals 10.5 acres and the state-of-the-art low site cover parcel hub has been built to BREEAM “Excellent” standards and an EPC A+ rating. The scheme incorporates various sustainable initiatives including on-site renewable energy, EV charging, thermal insulation and high performance glazing, sustainable lighting technology, reduced water flow rates, health and wellbeing commitments, and biodiversity initiatives.
Schroders Capital Real Estate team is focused on growing income across the SCREF portfolio through active asset management. With DPD taking a 25-year lease term, the delivery of this new and highly sustainable facility at Revolution Park builds on the Fund’s defensive income qualities and long term resilience.
Revolution Park has been awarded Deal of the Year in the 50-100,000 sq ft category at the National Industrial Agents Society awards and Midlands Regeneration Development of the Year at the Midlands Props Awards. It is nominated for further awards later this year, including Property Deal of the Year and Development of the Year at the upcoming West Midlands Insider Awards.
Gerald Eve LLP and Bulleys acted on behalf of Trebor and SCREF. SBH acted on behalf of DPD.
Greg Dalton, Development Director for Trebor, commented: “We’re delighted to have achieved completion on this exciting project within both budget and programme. Acting for Schroders Capital UK Real Estate Fund as their Development Partner, we worked closely with DPD to ensure the unit is delivered on time to meet their operational needs and whilst also being designed to meet their exact specification. We’re excited to see DPD’s operation begin.”
Rob Cosslett, Fund Manager at Schroders Capital, added: “It is great to see the completion of DPD’s state-of-the-art distribution facility at Revolution Park, and we would like to thank our partners at Trebor for their support in developing the site. This project’s success is testament to our expert industrial team at Schroders Capital. With an active asset management approach and close relationships with occupiers, our team is constantly focused on identifying opportunities across our portfolio to create best-in-class spaces that suit changing tenant needs.”
Left to right: Jon Ryan-Gill (Gerald Eve), Laurence Wadlow (Trebor Developments), Matthew Good (Schroders), Rod Spiby (Bulleys), Oliver Moore (DPD), Greg Dalton (Trebor Developments).