St Modwen buys South Staffordshire industrial park

BIRMINGHAM-based developer St Modwen has bought an industrial estate in Great Wyrley, Staffordshire.

It has acquired the four acre Landywood Enterprise Park, which is currently let to four tenants, at auction.

Financial details have not been disclosed.

The acquisition takes the number of industrial estates owned and managed by the developer to 14, including Watling Street Business Park in Cannock and the site of the former Goodyear works in Wolverhampton.

Landywood Enterprise Park is a single industrial building divided into self-contained units.

Located off the A34, less than a mile from the M6 toll, and just two miles from the M6, the site is located in an established industrial area.

Julie Rossiter, senior asset manager at St Modwen, said: “Landywood Enterprise Park is an excellent addition to our portfolio, enabling us to use our asset management skills to improve the industrial estate and let the vacant units.

“We are seeing an increase in demand from industrial occupiers across our portfolio which reflects recent reports in the national media that occupier demand in the UK industrial market rose 8% in 2014.”

A two storey office at 5,706 sq ft and a 1,460 sq ft industrial unit are currently available at Landywood Enterprise Park.