Logistics park set for £60m expansion

A prominent East Midlands logistics park is set to expand after development giant St. Modwen committed to invest nearly £60m in the scheme’s next phase.

A further 350,000 sq ft of warehouse space will now be built at St. Modwen Park Derby on Wyvern Way, with completion expected next year.

The next phase of the development will see St. Modwen and Winvic Construction deliver a new 147,000 sq ft warehouse, which has already been pre-let, at the site, and four further buildings totalling 200,000 sq ft.

St. Modwen has already invested more than £45m in the logistics park, attracting international occupiers Vaillant and Getinge in the process.

Robert Richardson, development director at St. Modwen Logistics, said: “Our committed investments in St. Modwen Park Derby now exceeds £100m and our decision to embark on the next phase of development, underlines our confidence in Derby as hub for logistics as well as high-skilled tech and manufacturing. We expect a diversity of demand for the new units and a wide variety of employment opportunities to be generated. The first phase of construction on the Park was a huge success and we are looking forward to working with Winvic again to deliver this next phase of development.”

Danny Nelson, head of industrial, distribution and logistics at Winvic, said: “We have built an outstanding relationship with the St Modwen team in delivering the civils and infrastructure package and the four industrial units at Derby – as well assets across other sites – and we’re delighted to have secured the contract for Phase 2. Sustainability is a fundamental part of both Winvic’s and St Modwen’s DNA and our one-team approach ensures we’re able to help occupiers achieve their own sustainability goals.

“The team is looking forward to progressing the scheme at pace and we are scheduled to complete all five facilities early in 2024.”