20th February 2018
ST. MODWEN GETS GREEN LIGHT FOR FIRST PHASE OF DEVELOPMENT AT 35-ACRE TAMWORTH SITE
National developer St. Modwen has received approval for the first phase of building at its 35-acre site, east of junction 10 of the M42, known as Tamworth Logistics Park.
The firm submitted reserved matters in May 2017 and has now been given the go-ahead to develop 89,000 sq ft of land to create three units, ranging from 12,000 sq ft up to 49,000 sq ft.
Work on the site will begin at the end of this month (February), with the units, which will be designed for manufacturing, storage and distribution firms, due to be completed early 2019.
Gregg Titley, Development Director at St. Modwen, said: "Tamworth Logistics Park is in a highly desirable location, with its proximity to the M42 corridor making it an ideal space for both distribution and manufacturing companies. Based on the current lack of supply of sub-100,000 sq ft new buildings and a strong enquiry level, we're confident that the units will be filled quickly."
Peter Monks and Katie Aitchison from joint agents Colliers and Savills, said: "There's strong demand in this area for premium warehouse space and these three units, which will be built to the highest specification, will cater for the needs of local and regional businesses. With the lack of good quality space on the M42 corridor and indeed in the wider Midlands area, it's unsurprising that we've already received strong interest from a number of occupiers."
Tamworth Logistics Park is part of St. Modwen's growing focus on the development of industrial and logistics sites in areas of high demand across the UK. Out of the company's overall medium–term commercial pipeline, St. Modwen has identified over 1 million sq ft of high quality industrial and logistics projects deliverable in the region over the next few years. During 2017 the company delivered over 500,000 sq ft in the region, of which X% is already sold, let or pre-let.
As part of the Tamworth development, St. Modwen will create a new access off Trinity Road to service the site. A substantial area of existing open space to the south-west of the site will also be retained, providing natural wildlife habitats.
The site spans 35 acres to the east of the motorway and 20 acres to the west, adjacent to St. Modwen's Centurion Park development, one of the Midlands' most sought-after locations for warehouse and distribution operators. The site to the west has consent for 206,000 sq ft, with a letting to DFS of 53,000 sq ft which was subsequently sold to Lime Development Limited, with work recently completed on a new unit of 153,000 sq ft.
Savills and Colliers are joint agents for Tamworth Logistics Park.
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