St. Modwen has completed the construction of 89,000 sq ft of industrial and logistics space at its 35-acre employment scheme, St. Modwen Park Tamworth.
The developer has delivered three speculative warehouse units, ranging from 12,000-49,000 sq ft at the flagship development, with the first unit let to SM UK Ltd – one of the country’s leading electrical installation companies.
The national business, which is expanding from its Leeds Head Office into the Midlands, has taken 12,000 sq ft on a 10-year lease.
The second phase of development at St. Modwen Park Tamworth, which comprises almost 480,000 sq ft of additional manufacturing, storage and distribution space – including a speculative 318,500 sq ft unit – is underway and will be ready for occupation from January 2020. Once complete, the entire scheme could create up to 1,700 new jobs.
Strategically located on the M42 corridor, St. Modwen Park Tamworth is ideal for distribution and manufacturing companies, with the first phase offering high-quality accommodation for medium-sized businesses.
St. Modwen Park Tamworth evidences the company’s pledge to a committed pipeline of 1.6m sq ft in 2019, a 50% increase compared with 2018. This is supported by one of the UK’s biggest total pipelines, which spans 15m sq ft – 60% of which has already been granted planning permission.
Gregg Titley, Development Director at St. Modwen, said: “The completion of the first phase at St. Modwen Park Tamworth demonstrates our ability to identify and bring forward areas of strategic land for commercial use. We’re developing a very attractive offer in a location that is second to none and this has been evidenced by SM UK’s eagerness to secure our first unit. We look forward to welcoming more occupiers to the scheme and to pressing on with the second phase.”
Joint agents for the site, Katie Monks, Associate Director at Savills, and Sam Robinson, Associate Director at Colliers, added: “St. Modwen Park Tamworth is a highly-sought-after development, with excellent transport links and high-quality space, which SM UK will now benefit from. The Industrial and Logistics market has gone from strength to strength in recent years and this scheme is undoubtedly up there with the best.”
Steve MacDonald, Managing Director at SM UK, added: “Our new unit provides a high-quality product, which will help support SM UK’s growth over the coming years. For us, St. Modwen Park Tamworth was a no-brainer due to its unparalleled location at the heart of the Midlands logistics network. We look forward to occupying the unit in the New Year and bringing a highly-skilled workforce to Tamworth.”
For more information, visit: stmodwenlogistics.co.uk/property/st-modwen-park-tamworth