What is described as the first major speculative warehouse development in the UK since 2008 is being built by IM properties at its 400-acre Birchwood Coppice development in the West Midlands. Two buildings totaling 334,500 sq ft are due to start construction in July and will be completed in January 2014. IM Properties’ Development Director Kevin Ashfield said: There is a severe shortage of good quality stock both regionally and nationwide, and against this backdrop of decreasing availability we are seeing increasing occupier demand. Occupiers need certainty over deliverability and few companies can wait for a design and build solution. We believe the time is right for speculative development.