St. Modwen Logistics continues to respond to growing market demand as it reaches practical completion across five of its parks, expanding its portfolio with more than 900,000 sq ft of additional high-quality warehouse space delivered at locations across the country.
The East Midlands has the lowest level of warehouse supply in the UK and St. Modwen Logistics is building on this lack of supply, with the latest completions representing more than 400,000 sq ft across two Midlands locations. This includes St. Modwen Park Lincoln, which has reached practical completion on 124,021 sq ft of space and St. Modwen Park Tamworth’s new units, which amount to 300,000 sq ft.
Meanwhile, St. Modwen Logistics has delivered the second phase of development at St. Modwen Park Gatwick, amounting to 64,752 sq ft, with a further 130,643 sq ft of space at St. Modwen Park Newport and 305,000 sq ft at St. Modwen Park Gloucester.
Five of its new units across the country in Gatwick, Lincoln, Tamworth, and Gloucester are pre-let, feeding into the 72% of its 1.5m sq ft 2021 pipeline that is already pre-let or under offer.
St. Modwen has continued to demonstrate its ability to deliver high-quality, Grade A warehouse space and has completed a total of 20 units across the country. The new units support the company’s ambitious growth targets and demonstrate its commitment to delivering prime, speculative developments that cater for all customers and their increasing needs.
All new units meet the developer’s Swan Standard, a set of industry leading guidelines in terms of sustainable development, focusing on responsible building practices and the needs of its customers and their employees. All principles are embedded into the delivery of each of its parks, with BREEAM Excellent accreditations and park enhancements across five key areas: environment and sustainability, wellbeing, community, transport, and security.
Polly Troughton, Managing Director of St. Modwen Logistics, said: “This is a great achievement for St. Modwen Logistics and demonstrates our commitment to developing 1.5m sq ft of urban and big box warehouse space in 2021.
“Our continued portfolio growth is testament to our ability to deliver the highest quality product across our parks, with customer needs and sustainability at the heart of our specification. With five already pre-let, we are seeing strong interest in these new units, and we are confident that they will attract many successful businesses which will contribute significantly to the UK’s future economic growth and the much-needed UK logistics infrastructure.”