The 135-hectare scheme, dubbed Thrive Park, will deliver 3 million sq ft of industrial space, with around a third earmarked for advanced manufacturing.

IM Properties said the park would help tackle a critical shortage of employment land in the region, with just one year’s strategic supply remaining along the M42 corridor.

If approved, Thrive will be developed in phases and include space for start-ups, manufacturers and logistics firms within a landscaped setting featuring orchards, allotments and lakes.

Development director Lewis Payne said: “The West Midlands needs a new employment site to support domestic high-quality advanced manufacturing, R&D and logistics. Thrive is central to supporting the region’s industrial strategy.”

Buildings for start-ups will be the UK’s first industrial units designed to Passivhaus standards, and the whole site will support all-electric operations. A central mobility hub will offer e-scooters, EV charging and buses.

The plan spans both North Warwickshire Borough Council and Birmingham City Council areas.