St Modwen record more than 1 million ft2 of lettings

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Developer St Modwen has recorded more than 1 million ft2 of lettings so far this year across its portfolio.

So far it has let 1,060,769 ft2 of space across the UK to tenants such as DB Schenker, Gardiner Brothers & Co, Super Smart Services, DWK Life Sciences and Euro Star Global.

The latest deals saw power plant equipment supplier, Yellow Power, take 27,056 ft2 of space at St. Modwen Park Stoke South, while Clinisupplies has also agreed to occupy a 75,225 ft2 unit at the Midlands-based site. These deals were followed by global energy services and equipment provider, Schlumberger, which signed a pre-let on a 55,000 ft2 unit in Gloucester.

St. Modwen Logistics continues to benefit from the strong operational demand for quality logistics and industrial space which is pushing  take-up  to record levels.

Last month St Modwen was the subject of a £1.2 billion deal with real estate investor Blackstone. St Modwen has a strategic land portfolio of some 6,000 acres – 50% of which is in the midlands. The sites are capable of delivering 1 m ft2 upwards on each site and with 15 strategic sites at present.

It has the potential to deliver c.19m ft2 of new logistics space of which c.7.6m ft2 (representing 40% of the pipeline by space as at 30th November 2020) is committed or consented.

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