Developer St Modwen has unveiled a major new warehousing and logistics scheme in Newport.
Located at its St Modwen Park Newport it has speculatively built- through its St Modwen Logistic division - four new buildings totalling 116,000 sq ft. A 17,000 sq ft warehouse has already been taken by adhesive manufacturer Ureka Global, with the remaining, ranging between 24,000 to 43,000 sq ft available for businesses to occupy.
Mark Snow, senior development director at St Modwen Logistics, said: “St Modwen Park Newport is located in Wales’ fastest-growing city, with nearly half a million economically active people within 30 minutes’ drive time, which underpinned our decision to develop these spaces in Newport.
“There is currently an acute shortage of space across the South Wales and the south west, yet research last year showed that this region saw the UK’s biggest increase in equity investment among SMEs, making buildings of this size in Newport ideal for growing businesses looking to stay in the area. Newport is also proving to be an attractive for businesses from nearby cities, as we saw recently with Ureka Global. This family-run business from Bristol will join a number of leading businesses who are already at St. Modwen Park Newport and we look forward to welcoming them.”
Alex Nunn, managing director, Ureka Global, said: “After a period of sustained growth, we are incredibly excited to be moving into our new building at St Modwen Park Newport. Having access to the M4 and wider motorway networks is critical to our business and, having looked at various locations, it quickly became apparent that Newport was the perfect spot for us.
“This move will allow us to bring all of our stock under one roof and ensure we are able to continue delivering for our customers to help them out of whichever sticky situation they find themselves in.”
The latest developments at St Modwen Park Newport takes its warehousing space to 345,000 sq ft. It is already home to the likes of Amazon, Genpower, CAF and Mitel. Phase four which comprises an additional 263,000 sq ft of logistics space, is due to complete this summer.
Jane Mudd, leader of Newport City Council, said; "It’s fantastic to see St Modwen investing in speculative builds at St Modwen Park Newport. This reflects the confidence they have in Newport as a city, recognising our fantastic connectivity, availability of workforce, and the great quality of life we can offer.
“The fact that the new units have already attracted interest demonstrates this confidence is well placed, and we’d like to welcome Ureka Global to Newport. The new jobs and investment they bring enhances our reputation as a place to come and do business.”
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