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ST. MODWEN ENTERS BASILDON COMMERCIAL PROPERTY MARKET WITH PURCHASE OF VANGE WHARF

St. Modwen, the UK’s leading regeneration specialist, has bought a multi-let industrial estate fronting the A13 at Basildon – Vange Wharf.

The fully-let, seven acre property comprises 90,000 sq ft of industrial buildings and 82,000 sq ft of storage yards. St. Modwen bought Vange Wharf from Broomford Vange, a company which held the site as its sole asset.

Businesses located at Vange Wharf include Essex Groundwork Supplies, WRVS Food Services, storage and logistics company The Finishing Line and logistics specialist Magnum Spediton.

The purchase forms part of a strategy by St. Modwen to increase the employment floor space in its South East property portfolio by the prudent acquisition of sites with asset management and long-term development potential. “We have the finance, expertise and a flexible approach which allows us to move quickly to acquire sites from landowners who are looking for a reliable and uncomplicated disposal” said Nick Kay, Development Director, St. Modwen.