Steelworks up on developer’s largest-ever speculative unit
St. Modwen is delivering its industrial and logistics growth plans with the start of steelwork at a 318,500 sq ft warehouse unit.
The facility – the largest speculative build in St. Modwen’s history – is part of a wider 35-acre prime distribution site known as St. Modwen Park Tamworth. The news follows the recent formation of the company’s dedicated business unit, St. Modwen Industrial & Logistics.
The 318,500 sq ft unit will benefit from a 53m yard, 15m eaves height, solar panels to enable reduced running costs.
The developer is also currently constructing three further warehouse units ranging from 12,000-49,000 sq ft as part of its first phase, which will be ready for occupation in Q3 2019. Once completed, the entire development could create up to 1,700 jobs.
St. Modwen Park Tamworth is part of the company’s pledge to a committed pipeline of 1.6m sq ft, which it intends to deliver in 2019 – an increase of 50% on last year. This is supported by one of the UK’s biggest total pipelines, which spans 15m sq ft – 60% of which has already been granted planning permission.
Gregg Titley, development director at St. Modwen, said: “We are growing a significant industrial and logistics business and St. Modwen Park Tamworth is key to driving forward our plans. This type of build requires the end-occupier to be at the forefront of our thinking throughout the process and we’re confident that our largest ever speculative build will fulfil their requirements.”
Joint agents for the site, Katie Aitchison, associate director at Savills, and Sam Robinson, associate director at Colliers, said: “St. Modwen Park Tamworth presents an exciting opportunity for an occupier to base itself in a prime location for logistics but also in a unit of exceptional specification. St. Modwen has gone the extra mile for T318, providing everything an occupier could need and more.”
The park will also benefit from the addition of a further 118,000 sq ft of industrial and logistics space after St. Modwen secured planning permission to build a fifth unit from Warwickshire County Council.
