City Council acquires Trade Park from property developer
St Modwen has secured a deal with Stoke-on-Trent City Council for the local authority to acquire its Trade Park scheme at St Modwen Park Stoke Central.
The Longbridge-headquartered property developer has also secured planning permission to develop a further 86,000 sq ft at the site creating a potential 150 jobs.
St Modwen Park Stoke Central (formerly known as Etruria Valley) forms part of the 300-acre Festival Park scheme.
Earlier this month St Modwen announced it was delivering its industrial and logistics growth plans with the start of steelwork at a 318,500 sq ft warehouse unit at St Modwen Park Tamworth. This followed the formation of the company’s dedicated business unit, St Modwen Industrial & Logistics.
The third phase of development of St Modwen Park Stoke Central will commence this month with St Modwen building the 43,000 sq ft trade park scheme for the City Council in addition to a 43,000 sq ft industrial/logistics unit, which will be available to lease.
Euan Lindsay, Senior Development Manager at St Modwen, said: “The Trade Park scheme for Stoke-on-Trent City Council will provide a range of small employment units to a market with an encouraging level of demand. We’re very pleased to be assisting the council in creating and securing employment opportunities in the city.
“The additional 43,000 sq ft unit that will be built alongside the Trade Park will provide first-class industrial and logistics space for companies looking to secure well-located, quality accommodation.”
In recent months St Modwen has received planning permission to develop more than 570,000 sq ft of industrial and logistics space across sites in Stoke-on-Trent and North Staffordshire.
Councillor Daniel Jellyman, cabinet member for regeneration, infrastructure and heritage at Stoke-on-Trent City Council, said: “We’re focused on increasing economic growth, maintaining and creating new local jobs and bringing prosperity to the city.
“Continuing to attract investment to the area is vital to sustained economic growth and for creating opportunities for residents and businesses.”
The latest phase of St Modwen Park Stoke Central is scheduled for completion in Spring 2020.
