St Modwen Logistics says it is pumping almost £60 million into developing an additional 350,000 sq ft of warehousing at its site off the A52 east of Derby.
The developer said it is working with Winvic Construction on a new 147,000 sq ft warehouse which has already been pre-let at St Modwen Park Derby, and which is set for completion in 2024. Four more buildings will follow totalling around 200,000 sq ft.
St. Modwen Logistics has already invested more than £45 million delivering more than 300,000 sq ft of warehousing across four units at the site, which was completed last December. It said it had attracted two international occupiers so far, with German heat pump manufacturer Vaillant signing for 131,000 sq ft and Swedish medical technology company Getinge establishing a new global centre of excellence for chemistry alongside its new UK headquarters.
The next warehouses will be built to St Modwen Logistics’ ‘Swan Standard’ of sustainable construction and the Midlands-based company said it was strengthening biodiversity at the park through a new riverside nature corridor, having already planted 17,000 trees and shrubs.
It said St Modwen Park Derby was one of the biggest regeneration sites in the region with strong transport links and access to one of the highest skilled workforces in the country.
Development director Robert Richardson said: “Our committed investments in St. Modwen Park Derby now exceeds £100 million and our decision to embark on the next phase of development, underlines our confidence in Derby as hub for logistics as well as high-skilled tech and manufacturing.
“We expect a diversity of demand for the new units and a wide variety of employment opportunities to be generated.
“The first phase of construction on the Park was a huge success and we are looking forward to working with Winvic again to deliver this next phase of development.”
Derby North MP Amanda Solloway said: “It has been fascinating to see St Modwen Park taking shape on what was waste ground next to the Wyvern Centre.
“Last year, I attended the launch event and saw first-hand the huge benefits that it will bring to Derby in terms of job creation and the provision of high-quality warehouse space and the kind of modern, dedicated office space that the city and the wider Midlands needs if it is to grow and prosper.”
Derby City Council chief executive Paul Simpson said: “This is more great news for the city in what has been a bumper month of major investment announcements, following the decision to make Derby the home of Great British Railways.
“In February we also welcomed two industry leaders, Getinge and Vaillant, to St Modwen Park. Now we can look forward to seeing more in phase two, which will create more jobs and boost our economy further. It’s clear Derby is seen as a fantastic City in which to invest.”
