ST. MODWEN’S PROPERTY PIPELINE STRENGTHENED WITH BRIDGEWATER ACQUISITION

St. Modwen, the UK’s leading regeneration specialist, has purchased a 12 acre site in Bridgewater, Somerset to expand its investment portfolio in the south west. The site has future development potential as part of wider expansion plans to the east of Bridgewater.

The site comprising a total of 250,081 sq ft industrial premises with ancillary office space is currently let to international business, BFF Nonwovens Ltd.

The site, located off Bath Road near the M5 also forms part of the wider urban extension area of North East Bridgwater, where planning permission has already been granted for 2,000 homes, the Morrison’s distribution hub and further employment space.

Rupert Joseland, South West Regional Director for St. Modwen, commented: “The site fulfils our acquisition criteria as a long-term income generating scheme that provides clear prospects for further development.”

In wider Somerset, St. Modwen is also developing three other schemes including Locking Parklands near Weston Super Mare, Langford Mead near Norton Fiztwarren and Firepool, a £270 million flagship development in Taunton town centre.

Jones Lang La Salle acted for St. Modwen and Savills on behalf of the vendor, Tamar (Bridgewater) LLP.