St. Modwen, the UK’s leading regeneration specialist, has secured a 150 year ground lease at its Centre 500 industrial and distribution scheme in Newcastle-under-Lyme, Staffordshire.
Just weeks after local company Langley Alloys secured a lease at Centre 500, local construction company S.A. Platt has purchased a 6,000 sq ft unit at the popular industrial and distribution scheme.
Currently based in Tunstall, S.A. Platt has established an enviable reputation for quality and craftsmanship with a customer base ranging from Staffordshire County council to Mercedes Benz. The company’s relocation to Centre 500 leaves just two 6,000 sq ft properties now remaining for lease or purchase.
Andrew Cox, development surveyor for St. Modwen commented: “S.A. Platt is a local firm with a long standing reputation in the region and we are delighted that the company is relocating to Centre 500. The location of Centre 500 is ideal for construction and industrial businesses which rely on a strong distribution network and S.A. Platt has clearly recognised the benefits of being situated so close to the motorway network.
“With just two properties now remaining at the development, Centre 500 is bucking current market trends and firmly putting Staffordshire on the map as a prime location for industrial businesses. We expect the development will be completed by the end of this summer and would urge any local companies looking to relocate to speak to us now or risk disappointment.”
Once transactions are completed on the final two properties, St. Modwen will have successfully let and sold a total of 22 units at Centre 500 providing a total of over 92,000 sq ft of industrial space to the region.
Centre 500 is prominently situated adjacent to the A500 between the Wolstanton and Basford roundabout junctions. The development benefits from direct access to Junction 15 and 16 of the M6, together with the A50 and the Midlands motorway network beyond. With the majority of the development now completed, St. Modwen is proposing to construct a bridge link from the entrance of the scheme over to neighbouring development Etruria Valley, where the company has a substantial land holding for future development, subject to market demand.
Notes to Editors:
St. Modwen is the UK’s leading regeneration specialist, operating across the full spectrum of the property industry through a network of seven regional offices and a Birmingham based head office. The company is wholly focussed upon regeneration with expertise in brownfield land renewal, partnering with industry, town centre regeneration, Innovation Centres and education projects. www.stmodwen.co.uk