St Modwen Properties PLC , the regeneration specialist, has made a further significant addition to its hopper of further development opportunities by acquiring the 29.3 acre former Ford Motor company plant at South Ockendon, Thurrock. The site consists of 1950s industrial accommodation now vacated by Ford.
In the short term, St Modwen will be operating the site as a managed estate whilst progressing plans for a major mixed use development.
Richard Froggatt , executive director of St Modwen Properties, said: “We are delighted to have completed our first transaction with Ford. We simultaneously exchanged and completed the purchase to meet Ford’s timetable. Ford was particularly keen to select a company who would bring about major regeneration for this key site in South Ockendon.
“We are establishing a close relationship with Ford and Thurrock District Council and both parties have reacted very positively to our proposals for the site.”
Cushman & Wakefield Healey & Baker advised Ford in the transaction and St Modwen has appointed Colliers CRE and Glenny for the short term lettings.
For further information contact Richard Froggatt of St Modwen Properties (0121 222 9400).
Issued by Paul Raymer of Howle Chapman Raymer (0121 236 7771).