St. Modwen Logistics continues to deliver on its ambitious growth plans as it secures planning permission for more than one million sq ft of space in six sought-after locations.
Demand for logistics space has increased dramatically in the last 18 months and continues to rise, with Q3 year-to-date take-up 37% above the long-term annual average.
As a result, St. Modwen Logistics is experiencing growth in the Southwest region, where St. Modwen Park Gloucester has recently been granted planning for 227,000 sq ft of space. A further 115,572 sq ft has also been approved for Wales-based St. Modwen Park Newport.
Planning consent is also secured within the highly sought-after Midlands region, with the final phases set to be delivered at St. Modwen Park Lincoln, amounting to 459,440 sq ft. Worcester-based St. Modwen Park Broomhall has had planning approved for 80,000 sq ft which marks the second phase of development at this location. In Birmingham, The Cofton Centre in Longbridge has been granted planning for a 155,000 sq ft unit available in Q3 2022. Finally, St. Modwen Park Stoke Central, in Stoke-on-Trent, has had planning permission approved for 225,000 sq ft of space.
The total space supports St. Modwen’s ambitious target of delivering c. 19m sq ft from its landbank into its big box and urban logistics warehouse portfolio. The landbank provides sites strategically located on key logistics corridors and conurbations across the UK.
With planning secured and construction set to start imminently in Stoke-on-Trent, Gloucester, Newport, Birmingham, Lincoln and Worcester, St. Modwen Logistics will be applying its sector-leading code of practice, the ‘Swan Standard’ to each development. The standard leads the industry in terms of sustainability, focusing on responsible development and the needs of customers and their employees. All principles are embedded in the delivery of each St. Modwen Park to a BREEAM Excellent standard.
Polly Troughton, Managing Director at St. Modwen Logistics, said: “This is another great step forward for St. Modwen Logistics and sets us up to deliver on our ambitious 2022 development programme and meet the strong customer demand for quality logistics space across the UK. Almost three quarters of our 1.5m sq ft 2021 pipeline is already pre-let or under offer, and this recent consent to further build over one million sq ft of space will help us create the much-needed warehouse space required across the UK currently.”