St. Modwen has launched its latest industrial and logistics development phases as part of plans to deliver around 1.5m sq ft of high-quality space in 2021.
Construction has started on the developments that will continue across 11 schemes nationwide to deliver over 25 new units as businesses continue to bolster supply chains.
This latest build programme further unlocks the potential in the company’s 19 million sq ft future pipeline, 45% of which already has planning. In July, St. Modwen confirmed being on track to deliver 1.2m sq ft of new space during 2020 with 53% of associated £7.7 million ERV let or under offer, up from 18% of committed pipeline at start of 2020, reflecting continued strong demand.
Industrial and logistics represents an important growth area for St. Modwen and now accounts for 48% of the company’s total portfolio.
Only last week the company announced that it would be speculatively developing three units of 36,987 sq ft, 51,572 sq ft, and 97,781 sq ft at its 200,00s0q ft Basingstoke scheme.