450,000 sq ft logistics scheme delivered in Worcestershire
Work has been completed on the second and final phase of a 450,000 sq ft logistics and manufacturing scheme in Worcestershire.
Commercial property developer Stoford has delivered the Grade A scheme at Redditch Gateway after being forward-funded by European specialist logistics investor, Blackbrook.
The investor has also acquired the freehold interest in the two assets comprising 160,208 sq ft and 286,328 sq ft.
Sustainable credentials of the scheme include a BREEAM Excellent and EPC A rating alongside net zero carbon in operation.
Stoford is the development partner for the 78-acre site Redditch Gateway South, working alongside landowners, The Gorcott Trust and Homes England. It delivered a 534,000 sq ft warehouse unit during phase one of Redditch Gateway, which was pre-let to Amazon, and a £6.5m investment in infrastructure works, including a signalised traffic junction.
Dan Gallagher, joint managing director of Stoford said: “At the heart of the Redditch Gateway scheme is the collective desire of several stakeholders to deliver more commercial space for businesses in Worcestershire. These highly specified buildings offer significant benefits to occupiers, with an excellent power supply and connectivity, and future-proof ESG credentials.”
Jon Strang, managing director of Blackbrook said: “We are delighted to have completed the development of these two facilities with Stoford. This project is a perfect demonstration of Blackbrook’s long term strategy to deliver future-proof supply chain infrastructure across Europe, with the specifications of both facilities, including their high power supply and their sustainability credentials, designed to directly address what continues to be in highest demand from occupiers in the UK market.”
Gary Woodman, Chief Executive of the Worcestershire Local Enterprise Partnership, said: “We are pleased to see that work has completed on phase two of the Redditch Gateway site. The Worcestershire LEP is proud to support this development to create more commercial property space for businesses, which we know is a growing challenge.
“The additional units created at Redditch Gateway will attract organisations to expand or relocate to the county, helping to increase jobs and business into Worcestershire, which in turn will strengthen and grow the local economy.”
