Urban Logistics REIT and Tungsten Properties have broken ground at Tungsten Park, Stone their joint venture industrial and logistics development in central Staffordshire.
Situated close to both the M6 and the A34, Tungsten Park will provide 86,000 sq ft of industrial and logistics space across four units ranging from 12,000 sq ft to 31,000 sq ft. Work is expected to finish in summer 2020.
The four units will offer a high-quality specification to meet the requirements of modern distribution operators, manufacturers and light industrial occupiers, with each unit includeing first-floor office space. The scheme is part of the wider Stone Business Park, with nearby occupiers including Jaguar Land Rover, Hexstone and RKW.
Justin McVeigh, associate development director at Tungsten Properties, said: “Tungsten Park, Stone will not only offer occupiers the latest in industrial and logistics space specifications, but is in an unrivalled central location. Situated adjacent to the A34 and A51, and less than ten minutes from the M6, the scheme is in an ideal position for logistics and light industrial operators.
“The development represents a significant investment in the area by Urban Logistics REIT and Tungsten Properties, and will bring some much-needed inward investment and jobs to Stone.”
Gerald Eve, Harris Lamb and M1 Agency have been retained as joint letting agents on the scheme.