Developer reveals plans for next phase of £200m Redditch Gateway
Property developer, Stoford, has announced plans for the next phase of development at a £200m logistics and manufacturing scheme near Redditch.
A reserved matters planning application has been submitted for the speculative development of almost 450,000 sq ft of new industrial and logistics accommodation at Redditch Gateway, near Junction 3 of the M42.
Stoford plans to build two new warehouse units ranging in size from 160,208 sq ft – 286,328 sq ft.
The units will be developed on the south side of the 78-acre Redditch Gateway site, off the A4023 Coventry Highway.
Works will start on site in autumn 2022 subject to planning and units could be ready for occupation from summer 2023.
Redditch Gateway will deliver almost 1m sq ft of brand new office, logistics and manufacturing accommodation when complete. The scheme includes a new 534,000 sq ft warehouse building to the north of the site in Stratford-on-Avon, which was pre-let to a multinational technology company.
Stoford has been appointed as lead developer for Redditch Gateway, working alongside landowners, The Gorcott Trust and Homes England. The scheme is being supported through a blend of grant and loan funding of £1.7m from Worcestershire Local Enterprise Partnership (WLEP) through its Growing Places Fund and a £1.8m grant from Greater Birmingham and Solihull Local Enterprise Partnership (GBSLEP).
Dan Gallagher, joint managing director of Stoford said: “We are excited to be submitting proposals for the next phase of Redditch Gateway. There is strong occupier demand for industrial and logistics accommodation of this quality in the region, which is why we are planning to develop speculatively. The scheme is superbly located in a prominent distribution area of the Midlands and benefits from excellent road transport links. It has the potential to deliver substantial economic benefits, creating jobs for local people and boosting the regional economy.”
Gary Woodman, chief executive of WLEP, said: “We welcome the news of the planning submission to expand the Redditch Gateway site. This site is one of Worcestershire’s key investment opportunities and is addressing a key challenge for the county to supply the growing demand for business units. As part of our 2040 Plan for Growth for Worcestershire, opening up more investment land for businesses is a key objective for the Local Enterprise Partnership to help support business growth and boost the local economy. I look forward to seeing this next phase of the Redditch Gateway site progress forward.”
Anita Bhalla, interim chair of GBSLEP, said: “These latest proposals demonstrate how Redditch Gateway is meeting the demand across our region for high-quality industrial developments. To date, the site has also created jobs for local people in a time where many were struggling due to the pandemic.
“Our £1.8 million investment in Redditch Gateway is an example of how we use our triple helix structure of bringing public, private and academic sectors together to drive forward inclusive economic growth. GBSLEP is committed to supporting schemes like this one which are already delivering on their potential to support and grow the local economy.”