St. Modwen Properties PLC BURTON GATEWAY LETTING SUPPORTS LOGISTICS FOCUS
18 August 2017 - 5:30PM
RNS Non-Regulatory
TIDMSMP
St. Modwen Properties PLC
18 August 2017
18 August 2017
ST. MODWEN RAMPS UP LOGISTICS DELIVERY IN THE MIDLANDS FOLLOWING
FIRST BURTON GATEWAY LETTING
Underpinning St. Modwen's accelerated focus on logistics
development
Leading regeneration specialist St. Modwen has secured the first
letting at Burton Gateway commercial business park in
Burton-on-Trent, one of the largest warehouse developments in the
Midlands, providing 1 million sq ft of industrial and distribution
space.
Hellmann Worldwide Logistics, global logistics experts, will
become the first tenant at Burton Gateway. The company has taken a
10-year lease at the 87,716 sq ft unit, known as BG87, which was
developed speculatively.
Previously a 280 acre wasteland site, St. Modwen carried out
extensive highway works to support the regeneration of the area
and, in turn, accelerate a key location for commercial and
residential development, having worked with the local authority and
key stakeholders.
St. Modwen has also recently submitted a detailed planning
application for the first phase of development at its 35 acre site
close to the M42, known as Tamworth Logistics Park. Phase one
comprises 90,000 sq ft of three proposed which units between 12,375
and 49,000 sq ft while outline planning consent for industrial,
storage and distribution uses for the full 677,000 sq ft site was
obtained in January 2017.
Burton Gateway and Tamworth Logistics Park are part of St.
Modwen's growing focus on the development of industrial and
logistics sites in areas of high demand across the UK. Out of the
Company's overall medium-term commercial pipeline, St. Modwen has
identified 7.5m sq ft of high quality industrial and logistics
projects deliverable over the next few years. During 2017 the
Company expects to develop 1m sq ft of industrial and logistics
space across its UK portfolio, of which 50% is already sold, let or
pre-let.
Ian Romano, Development Director at St. Modwen, said: "The
letting to Hellman Worldwide Logistics at Burton Gateway for their
next distribution hub demonstrates the ongoing demand for logistics
and distribution space in the Midlands area.
"We will shortly submit further planning applications for four
more industrial units ranging from 25,000 sq ft up to 110,000 sq ft
which will be available from Autumn 2018."
Andrew Sulston, Director of Contract Logistics at Hellman
Worldwide Logistics, said: "The opening of this DC at Burton
Gateway represents the second brand new warehouse for the UK
Contract Logistics division of Hellman Worldwide Logistics within
the last two years and gives Hellmann the capacity to continue this
rapid growth in the UK Contract Logistics market. We have worked
with St. Modwen to ensure the building meets our existing and
future business needs and we are delighted with the result. We are
looking forward to the opportunities created by the move and the
continued development of the Burton Gateway business park."
Burton Gateway is strategically located adjacent to the A38 at
the entrance to Burton-upon-Trent, with good links to the M42 and
A50. Nearby occupiers include Pirelli, Unilever, Boots, Rolls
Royce, Tesco and Toyota.
Savills and Knight Frank advised St. Modwen on the letting.
Colliers advised Hellmann Worldwide Logistics.
For more details on Burton Gateway visit
www.burtongateway.co.uk
For more information visit www.stmodwen.co.uk
- ENDS -
ENQUIRIES:
St. Modwen Properties Tel: 0121 222 9400
PLC
Charlotte McCarthy / Emily Corpcomms@stmodwen.co.uk
Boswell
FTI Consulting Tel: 020 3727 1000
Dido Laurimore / Tom Gough stmodwen@fticonsulting.com
/ Ellie Sweeney
This information is provided by RNS
The company news service from the London Stock Exchange
END
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