Three tenants have been secured for three brand new warehouses which have been constructed in Stoke-on-Trent.
St Modwen started work on five speculative industrial units at its 400-acre mixed-use St Modwen Park Stoke South development in January – totalling more than 183,000 sq ft.
Now three of the five units have been snapped up by energy supplies E.ON, Planova UK Ltd and Neida Products Engineering Ltd which have pre-let more than 80,000 sq ft between them.
Energy supplier E.ON has signed a 10-year lease on a 37,100 sq ft unit at the Trentham Lakes development, while shop fitting and shelving systems specialist Planova UK Ltd has agreed terms on a 22,000 sq ft unit.
Contract manufacturer and precision components supplier Neida Products Engineering Ltd has also signed a deal for a 22,000 sq ft unit on a 15-year lease.
And the two remaining units – which are 25,000 sq ft and 75,000 sq ft – are available for immediate occupation.
Stuart Murray, development director at St. Modwen Industrial & Logistics, said: “We’ve shown a continued confidence and commitment to the region with our investments across Staffordshire and our latest delivery has only reinforced the strength of the industrial and logistics market in the area. It is great to see three well-renowned brands choose Stoke-on-Trent; St. Modwen is undeniably bringing a wealth of opportunities to the area.”
St. Modwen Park Stoke South is already home to occupiers including Screwfix, Autoneum and Pets at Home.
Now, due to the success of this scheme, St Modwen has submitted a planning application for an additional three-unit phase at the site, with units of 53,000, 77,000, and 94,000 sq ft to be delivered in 2021 pending planning consent.
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Councillor Daniel Jellyman, deputy leader of Stoke-on-Trent City Council and cabinet member for infrastructure, regeneration and heritage, said: “This is great news for Stoke-on-Trent and I think it sends out a really positive message to businesses, developers and investors that we are emerging from the pandemic in a strong position. It’s significant that a regeneration specialist like St. Modwen continues to invest in Stoke-on-Trent and shows that we are open for business.
“We’re building on this continued investment by the private sector ourselves with major investments in the city’s transport infrastructure, which will boost the economy, revolutionise the way people get around and create a better-connected city for years to come.”
Joint marketing agents for the scheme are Knight Frank, Mounsey Chartered Surveyors and Avison Young.
Edward Kennerley, associate at Knight Frank, added: “This is unquestionably one of Staffordshire’s key employment hubs, with St. Modwen having delivered more than 2.3 million sq ft of development at this site to date.
“The impact of the pandemic hasn’t wavered the levels of interest in these high-quality, speculative units either – with three high-profile occupiers choosing this scheme ahead of the competition. It’s safe to say this has already proven a popular scheme.”