Construction has begun on the second phase of development at St. Modwen’s 58-acre industrial and logistics park in Gloucester with the as construction begins.
Four speculative units are set to be delivered at St. Modwen Park Gloucester, ranging from 36,000 sq ft to 55,000 sq ft, providing high quality industrial and warehouse space with direct access to the M5 motorway at Junction 12.
Build to suit opportunities will also be available across the remainder of the site up to 300,000 sq ft.
Work is expected to be completed by Summer 2021, and the new units could offer up to 250 jobs for the Gloucestershire area.
The scheme’s expansion follows a successful first phase of speculative delivery at the scheme. Three units scaling 45,000 – 73,000 sq ft were completed in January this year and are now fully let.
Earlier this year, global water treatment and magnetic filtration manufacturer ADEY Innovation became St. Modwen Park Gloucester’s first occupier, before multi-channel cookware retailer ProCook followed, taking 56,000 sq ft in July.
James Irwin-Singer, Development Manager at St. Modwen Industrial & Logistics, said: “The success of our first phase in Gloucester – even in spite of the pandemic – strengthened our commitment to push on and speculatively deliver four more units. This second phase provides a further opportunity for industrial and logistics businesses to take advantage of this popular, growing scheme and the direct access we have created to the M5 at Junction 12.”
Adrian Rowley, Partner at Alder King Property Consultants, added: “St. Modwen Park Gloucester offers unrivalled transport links, giving occupiers the ability to easily carry out operations across the UK and overseas. It is well-located for easy access to existing Gloucester amenities and within half a mile of the M5, providing wider regional and national road connections.”
Alice Hampden-Smith, Associate Partner at DTRE, said: “Securing occupiers at Phase 1 of St. Modwen Park Gloucester so soon after completion shows that St. Modwen is highly-skilled in speculatively developing high-quality space akin with the market’s requirements. We suspect that the four new units within Phase 2 will command similar interest and won’t be around for long.”