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ST MODWEN  ACQUIRES SCUNTHORPE INDUSTRIAL SITE FOR LONG-TERM DEVELOPMENT

Regeneration specialists St Modwen Properties PLC have acquired a four-acre former Yorkshire Electricity depot site in Scunthorpe for £1.1 million.

The site in Queensway comprises 2,322 sq m ( 25,000 sq ft ) of offices and warehousing and St Modwen plan, in the short term, to operate the development as a managed estate whilst considering long-term redevelopment opportunities

Steve Prosser, regional manager  of St Modwen, said:  “From our Leeds base we are actively looking for redevelopment sites for a variety of uses, in the whole of Yorkshire, in Lincolnshire, Humberside and in the North East.

“Earlier this year we acquired 234 acres at Hull where we are planning the creation of an employment-led  mixed use development which could provide opportunities for several thousand jobs.”

This acquisition is a typical one for the St Modwen hopper having an obvious useful short to medium term use but with interesting possibilities in the longer term.

St Modwen was unrepresented. Yorkshire Electricity was represented by Turner & Partners of Wetherby.

For further information contact Steve Prosser (0113 272 7070). Issued by Paul Raymer of Howle Chapman Raymer (0121 236 7771).