11th January 2018
ST. MODWEN WELCOMES NEW GLOBAL TENANTS AND EXPANSION AT PARKSIDE BUSINESS PARK
St. Modwen, national property developer has secured the presence of two well- known German-based businesses to Doncaster, following the lease of 78,000 sq ft newly developed space at Parkside Business Park.
Following the news of the successful lettings, St. Modwen has also secured planning consent for the second phase of development at the 27-acre site.
DB Schenker, a global business which operates a freight and infrastructure service, has leased 41,095 sq ft of warehouse space to develop a new facility to service the East Coast main line, which will further strengthen Doncaster's rail related economy.
In addition, Bosch Automotive, a leading global supplier of technology and services, has agreed a lease for 36,846 sq ft of warehouse space which will provide the base for a new automotive training centre. The business will soon commence a substantial fit-out of the unit and hopes to be operational in mid-2018 in what will be a flagship facility for the North of England and complement Bosch's existing facility in Uxbridge.
Both businesses have signed 15 year leases with St. Modwen.
The next phase of the development will comprise a further 60,000 sq ft split over two buildings which have been designed to be further split so as provide options from 10,709 sq ft to 31,462 sq ft. The expansion of Parkside Business Park reinforces St. Modwen's growing commitment to Doncaster.
Rob Richardson, Senior Development Manager at St. Modwen, said: "Attracting two global businesses to Parkside justifies our decision to speculatively build warehouse space on this brownfield site and without the need for grant-funding. We recognise the need for good quality mid-size warehouse space in Doncaster and South Yorkshire in order to attract new businesses to the town as well as providing quality options for growing indigenous companies, all of which will bring greater investment to the local economy.
Mike Baugh of joint letting agents CBRE commented: "The interest generated in this site is a sign of the continued growing optimism among industrial occupiers. This optimism, coupled with the chronic shortage of warehouse space locally and an encouraging capital value of £85 sq ft, gives confidence in the decision to further develop this site."
Ed Norris of CPP who also acted for St. Modwen added: "The decision by these leading global companies to locate in Doncaster and at Parkside illustrates the need to have a stock of quality newly developed space in the town, without which it is highly likely that these companies would have had to locate elsewhere."
Cllr Bill Mordue, Cabinet Member for Business, Commerce, Skills & Economic Development at Doncaster Metropolitan Borough Council commented: "We are delighted that such globally recognised businesses have chosen to invest in Doncaster. Excellent transport connectivity, good quality warehouse space and a readily available workforce all influence the decisions of businesses such as Bosch and DB Schenker as to where they locate. Doncaster ticks all the boxes and as a Council we are dedicated in making Doncaster an even better place for businesses to invest and locate in the future".
Parkside is a 27 acre strategic development, situated off the A638 Wheatley Hall Road within easy reach of the M18, A1 and Doncaster Town Centre.
The continued investment in Parkside Business Park is further testament to St. Modwen's confidence in Doncaster where it has also recently launched a new 24,300 sq ft speculative retail-led development at The Village at Waterdale, in the heart of the town.
The speculative development at Parkside Business Park forms part of St. Modwen's plans to construct 1m sq ft of industrial and logistics space across its UK portfolio over the next year, of which over 50% is already sold or pre-let.
Back to news