£200m development pre-let to Amazon
Birmingham developer Stoford has completed the first phase of a £200m build-to-suit logistics and manufacturing scheme near Redditch.
Unit A, a 534,000 sq ft warehouse building with a mezzanine floor and integral office space, has been pre-let to Amazon.
Funded by Royal London Asset Management (RLAM) the development has an end value of £86m. It lies north of the 78-acre Redditch Gateway site.
Redditch Gateway has capacity for up to one million sq ft of brand new office, logistics and manufacturing accommodation when complete.
Dan Gallagher, Joint Managing Director, Stoford said: “With the first unit at Redditch Gateway now complete, we are working to deliver the next phase in this exciting scheme. Redditch Gateway is located in a prominent distribution area of the Midlands, with a skilled local labour force and excellent transport links via the national motorway network.
“There is huge pent up demand for logistics and manufacturing accommodation of this size and quality in the West Midlands and we are anticipating significant interest in the next phase.”
Two additional build-to-suit units of between 150,000 sq ft – 250,000 sq ft are available to the south of the site, which is now fully serviced and delivers a 9.5 MVA power supply. The accommodation will include integral office space, a secure yard and parking, with a total space of c.450,000 sq ft.
Anita Bhalla, Interim Chair, Greater Birmingham and Solihull Local Enterprise Partnership (GBSLEP), said: “We allocated £1.8 million from our £208 million Local Growth Fund programme to this project. It’s great to see that Amazon has already signed up to move in and we can expect further tenants in the next phase.”
Redditch Gateway is being marketed by Burbage Realty, Colliers International and Savills.
