AN ambitious 20-acre business park is currently being built on Park Farm industrial estate in Redditch.

Velocity42, which will offer 330,000 sq ft across five units on the industrial estate, is set to be to finished in May, after work started earlier this year.

Richard-James Moore, from real estate and investment management firm JLL said that interest is high from potential tenants; from both local companies looking to relocate, and regional operators looking to satisfy the ever-growing demand from the online retail sector.

“Our research shows very clearly that while there's been a slowdown in demand for the giant distribution centres the opposite is true for units of less than 100,000 sq ft,” he said.

He added Redditch is a prime business location and some firms have already bought space at the park.

A spokesman added: "Work is progressing on all five buildings which are due to complete from May 2019, one of which has already been sold to local firm, Heartbeat UK."