Leading commercial property developer, Stoford, has begun the second and final phase of development at a multimillion pound logistics and manufacturing scheme in the West Midlands.
Stoford has commenced construction of two new Grade A warehouse buildings that will deliver almost 450,000 sq ft of logistics accommodation at Redditch Gateway, near Junction 3 of the M42, south of Birmingham.
The prime logistics assets have been forward funded by specialist European independent real estate investor, Blackbrook, which will acquire the freehold interest in both new developments upon their completion in Q4 2023.
The new units will comprise 160,208 sq ft and 286,328 sq ft respectively and are being built on the southern parcel of the 78-acre Redditch Gateway site.
They have been designed to meet the widest of occupier demands with 50 kN/m2 floor loading capacities and 15m clear heights, as well as access to high-power supplies of 9.5MVA, more than six times the institutional standard.
Stoford is targeting net zero carbon in operation for both buildings, as well as BREEAM Excellent and an EPC ‘A’ rating.
Winvic Construction has been appointed as contractor to deliver the works.
Stoford Joint Managing Director, Dan Gallagher said: “We are developing two highly specified logistics assets with Blackbrook, that will offer significant benefits to occupiers in terms of connectivity, power supply and future-proof ESG credentials.
“Redditch Gateway is an exciting logistics manufacturing development in a key distribution area that is serving demand in a supply constrained regional marketplace.”
Jon Strang, Managing Director of Blackbrook, said: “We’re delighted with Stoford’s progress on this project and to be closer to bringing two new logistic facilities to the market. Both assets boast a high power supply and are being built to the highest sustainability standards, making them high in demand and perfectly aligned with Blackbrook’s strategy to develop future-proof supply chain infrastructure.”
Gary Woodman, Chief Executive of the Worcestershire Local Enterprise Partnership, said: “It is brilliant news to see construction start on the new units at the Redditch Gateway site. Redditch Gateway is one of Worcestershire’s major commercial property developments, part of our 2040 Plan for Growth, to provide more commercial space for businesses.
“This development is helping to attract businesses to the region, boosting local jobs and crucially the economy for Worcestershire.”
Anita Bhalla, Interim Chair of GBSLEP, said: “This latest development demonstrates how our £1.8 million funding towards Redditch Gateway has unlocked a site which continues to deliver developments in the area. This latest scheme will generate jobs which will support the inclusive and sustainable economic growth of the local economy. This investment demonstrates how GBSLEP’s unique structure of bringing public, private and academic leaders together to make locally informed decisions creates opportunities for our businesses and communities.”
Leader of Redditch Borough Council, Cllr Matt Dormer, said: “We have to look to the future and not only will these units attract highly specialised companies, creating jobs for our residents, they have zero carbon credentials which is important to this Council and the environment. This Council promised progress – and we are delivering.”
Tim Davies, Senior Development Manager, Homes England, said: “Stoford have been working with us and partners to deliver this site for almost ten years. Having dealt with numerous challenges to be able to commence construction of these two units is testament to their capability and capacity.”
Redditch Gateway is located on the eastern fringes of Redditch, just 18 miles from Birmingham Airport and with convenient access to the national motorway network via J2 and J3 of the M42.
Phase one of the scheme saw the development of a new 534,000 sq ft warehouse building that was pre-let to Amazon and included a £6.5 million investment in infrastructure works and a signalised traffic junction.
Stoford is development partner for Redditch Gateway South, working alongside landowners, The Gorcott Trust and Homes England.
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