Investment News | 16 April 2024

Work completes on business park’s latest £60m phase

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Work on the latest £60 million phase of a new business park being created in Derby has been completed.

St. Modwen Logistics, which is one of the UK’s leading industrial and logistics developers and managers, has recently completed four new logistics units, totalling 202,000 sq ft, at St. Modwen Park Derby.

An additional 147,000 sq ft pre-let unit is also due to be completed this spring as part of this second phase of development.

The latest phase adds to the existing first phase of 300,000 sq ft completed at the park.

Robert Richardson, development director at St. Modwen Logistics, said: “St. Modwen Park Derby has already attracted a variety of blue-chip industrial and logistics occupiers, contributing to its reputation as a national hub for training and research for the manufacturing, healthcare and automotive industries.

“This latest phase of development, which will more than double the park’s industrial and logistics floorspace, provides occupiers of all sizes the opportunity to benefit from the scheme’s thriving business ecosystem, exceptional sustainability features and commanding location in one of the UK’s most in-demand logistics markets.”

The four new units, ranging in size from 27,000 sq ft to 82,000 sq ft, have been built to St. Modwen Logistics’ Swan Standard of sustainable construction.

The buildings, which are ready for immediate occupation, aim to not only support occupiers’ growth in the area but also help manage their operational energy costs through sustainable measures, including enhanced rooftop solar panels.

St. Modwen Logistics has also strengthened biodiversity at St. Modwen Park Derby through the creation of a new riverside nature corridor.

The first phase of development saw 17,000 trees and shrubs planted, with a further 11,167 trees and shrubs being successfully planted in this latest phase.

St. Modwen Logistics has already secured a diverse mix of occupiers at St. Modwen Park Derby.

German heat pump manufacturer Vaillant occupies a 131,000 sq ft unit, while Swedish medical technology company Getinge has also established a new Global Centre of Excellence for Chemistry within a 79,000 sq ft building which also acts as its UK headquarters.

In October last year, St. Modwen Logistics also announced that it had leased a 40,000 sq ft unit to global automotive company Kia for use as a cutting-edge new training academy for the next generation of Kia employees.

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