Stoford has agreed a deal with Royal London Asset Management to fund the delivery of the first unit of a £200 million logistics and manufacturing scheme near Redditch.
The commercial property developer is constructing a new 366,000 sq ft warehouse building to the north of the 78-acre Redditch Gateway site, near Junction 3 of the M42.
Redditch Gateway will deliver up to one million sq ft of office, logistics, and manufacturing accommodation. It has capacity for two additional build-to-suit units of between 150,000 sq ft – 250,000 sq ft, including office space, a secure yard, and parking, with a total space of c.450,000 sq ft.
Dan Gallagher, Joint Managing Director, Stoford said: “There is huge pent up demand for logistics and manufacturing accommodation of this size and quality in the West Midlands. Redditch Gateway lies in a strategically important part of the region and can become a key employment location, attracting new jobs and investment.”
Stoford has been appointed as development partner for Redditch Gateway, working alongside the two landowners, The Gorcott Trust and Homes England.