Work has completed on the second and final phase of development at a multimillion pound logistics and manufacturing scheme in the West Midlands.
Leading commercial property developer, Stoford, has developed almost 450,000 sq ft of new Grade A logistics accommodation at Redditch Gateway, near Jct 2 and 3 of the M42, south of Birmingham.
Two prime logistics assets of 160,208 sq ft and 286,328 sq ft have been developed on the southern parcel of the 78-acre site, on the eastern fringes of Redditch.
Stoford has designed the buildings to meet the widest of occupier demands with 50 kN/m2 floor loading capacities, 15m clear heights, and access to high-power supplies of 9.5MVA – more than six times the institutional standard.
The development also benefits from industry-leading sustainability credentials, including net zero carbon in operation, BREEAM Excellent and an EPC ‘A’ rating.
European specialist logistics investor, Blackbrook, forward funded phase two of the scheme and has acquired the freehold interest in both new buildings.
Stoford is development partner for Redditch Gateway South, working alongside landowners, The Gorcott Trust and Homes England. It delivered a 534,000 sq ft warehouse unit during phase one of Redditch Gateway, which was pre-let to Amazon, and a £6.5 million investment in infrastructure works, including a signalised traffic junction.
Dan Gallagher, Joint Managing Director of Stoford, said: “We are incredibly proud to have worked with Blackbrook to bring these two outstanding new logistics units to the market. At the heart of the Redditch Gateway scheme is the collective desire of several stakeholders to deliver more commercial space for businesses in Worcestershire. These highly specified buildings offer significant benefits to occupiers, with an excellent power supply and connectivity, and future-proof ESG credentials.”
Jon Strang, Managing Director of Blackbrook, said: “We are delighted to have completed the development of these two facilities with Stoford. This project is a perfect demonstration of Blackbrook’s long term strategy to deliver future-proof supply chain infrastructure across Europe, with the specifications of both facilities, including their high power supply and their sustainability credentials, designed to directly address what continues to be in highest demand from occupiers in the UK market.”
Gary Woodman, Chief Executive of the Worcestershire Local Enterprise Partnership, said: “We are pleased to see that work has completed on phase two of the Redditch Gateway site. The Worcestershire LEP is proud to support this development to create more commercial property space for businesses, which we know is a growing challenge. The additional units created at Redditch Gateway will attract organisations to expand or relocate to the county, helping to increase jobs and business into Worcestershire, which in turn will strengthen and grow the local economy.”
Cllr Matt Dormer, Leader of Redditch Borough Council, said: “We welcome the completion of this massive investment, which will now create even more new business, new jobs, and new prospects for people in Redditch and the surrounding area.”
Cllr Susan Juned, Leader of Stratford-on-Avon District Council said: “This is a key employment location as identified in our adopted Core Strategy. The completion of this development represents a major investment in the area and will create a great many employment opportunities, securing jobs for local people.”
Cllr Karen May, Leader of Bromsgrove District Council, said: “It’s great that this investment will now offer more opportunities for employment and economic growth in our area. Good businesses understand how good for business it is to set up in Bromsgrove District, and we look forward to this gateway site going from strength to strength.”
Tim Davies, Senior Development Manager, Homes England, said: “The development of these units is testament to Stoford’s skill and experience, demonstrating that they are a trusted delivery partner.”
For more information on availability at Redditch Gateway, please contact the scheme’s retained marketing agents, CBRE, DTRE and Savills.