Shoosmiths advises HydraForce on development of second site
Shoosmiths has advised hydraulic manufacturing company HydraForce on the development of its second site at Birmingham’s Advanced Manufacturing Hub, in a move that will create hundreds of jobs.
The company, which turned over almost £50m last year, already employs 280 staff at its European headquarters in Aston and expects this number to double by 2018.
Following confirmation of a £1.8m grant from the government’s Regional Growth Fund earlier this summer, the company has completed the deal with landowner the Homes and Communities Agency (HCA).
HydraForce expect to start to build the 120,000ft² factory in September, with a view to moving the entire business and staff to the facility in August 2015. The new site is intended to allow the company to bring the manufacturing of more of its products over to the UK from its parent company in the US.
The move also means HydraForce will become the inaugural tenant of the Advanced Manufacturing Hub, one of six economic zones in the city. The zones — advanced manufacturing, business and professional services, creative and digital media, life sciences, food and drink and IT, electronics and communications — are intended to provide growth environments for key sectors. It is hoped these will unlock £1.5bn of investment in the city and generate almost 50,000 jobs.
Savills advised the HCA and Birmingham City Council and is responsible for the marketing of the Advanced Manufacturing Hub and securing additional occupiers for the site.
Shoosmiths worked alongside Cameron Mitchell and Simon Lea of real-estate and professional services firm JLL on this project.
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