St. Modwen has announced the launch of its latest industrial and logistics development phases with plans to deliver c. 1.5m sq ft of “high-quality space” in 2021.
With the first construction already being carried out in September, St. Modwen is now active on 11 schemes to deliver over 25 new units in locations across the UK, this latest build programme showcases the company’s “19m sq ft future pipeline”, 45% of which already has planning permission.
In July, St. Modwen confirmed “being on track” to deliver 1.2m sq ft of new space during 2020 with 53% of its new developments now being let or up for offer.
Industrial and logistics space represents an “important growth” area for the development firm and now accounts for 48% of the company’s total portfolio.
Rupert Joseland, managing director of St. Modwen Industrial and Logistics, said:“As leasing momentum remains strong, we are excited to be pushing the button on new developments to further expand our portfolio.
“We have one of the UK’s biggest pipelines and focus on building out high-quality developments in key strategic locations. From major e-commerce companies and logistics firms to regional and specialist businesses, we are here to deliver for our customers and enable them to thrive in our modern and sustainable parks across the UK.”