Blackstone’s Indurent secures planning for major logistics scheme

Industrial and logistics specialist Indurent has received planning approval for a 432,000 sq ft speculative development in Staffordshire.

The Indurent Park Lichfield project will feature eight mid-sized units, ranging from 36,000 sq ft to 83,000 sq ft, rated a minimum BREEAM ‘Excellent’ rating and an EPC ‘A’ rating.

Construction is set to begin next year, with the first phase expected to be completed by 2026.

Indurent was created in February through the merger of Industrials REIT and St Modwen when Blackstone combined the two businesses to create one of the largest owners of logistics properties in the UK.

The company has a portfolio of more than 26m sq ft and took 27 individual transactions to build.

More than 200 assets as well as properties acquired through 25 other deals currently make up the group.

Jessica Evans, senior planning manager at Indurent, said: “The approval of Indurent Park Lichfield will help address the region’s acute shortage of modern, mid-sized warehousing and deliver substantial social and economic benefits.”