The site is centrally located in the UK, north-west of Birmingham on the key West Midlands logistics corridor and will bring significant economic benefits to the region through the creation of 8,500 jobs. It is expected to generate almost €0.5 billion of local economic activity and over €1 billion nationally each year. It benefits from excellent transport links to the UK's major cities, ports and airports, with direct access to the M6 motorway enabling 88% of the population to be reached within a four-hour drive, well within the single lorry journey limit.
James Boadle, head of logistics and European strategy at Oxford Properties, commented: "Demand for best-in-class logistics space that's sustainable and well-connected continues to significantly outstrip supply, particularly in the UK's 'Golden Triangle'. With the spades now in the ground, we have taken the first step in the construction of this major project, which we are delivering alongside LCP".
James Markby, Managing Partner of LCP, said: "We look forward to creating a world-leading logistics hub with a new strategic rail freight interchange, whilst delivering significant economic benefits to the region and nationally, and creating a landmark example of private investment making a significant contribution to a net zero carbon future.
As such, the project could be a major step forward in the decarbonisation of UK logistics. It aims to capitalise on rail's low CO2e emissions compared to road freight, with 70% lower CO2 emissions, up to 15 times lower nitrogen oxide emissions and almost 90% lower particulate emissions, to support the UK's net zero targets. WMI could take up to 77 HGVs off the road with each freight train, with the aim of reducing HGV traffic by 50 million kilometres a year.
