Fresh from selling 62 acres of land at its Whitley Business Park in Coventry to Jaguar Land Rover (JLR) for the expansion of its global headquarters, St. Modwen has completed a land sale coupled to a build agreement to national builders merchant Travis Perkins for a 214,000 sq ft, multi-million pound regional distribution centre at the site, bringing a further 300 jobs to the city.
St. Modwen, the UK’s leading regeneration specialist, has sold 21 acres to Travis Perkins for the centre which will operate 24 hours a day delivering goods and merchandise to its existing outlets. Coventry City Council granted planning consent for the facility in March, meaning that construction work can get underway this summer.
Mark Watkins, Senior Development Surveyor at St. Modwen, said: “This new Travis Perkins distribution centre is set to bring a further jobs boost for Coventry and reflects the attraction of both Whitley Business Park and the city – which can offer high quality accommodation, access to a skilled workforce and close proximity to both local and wider transport networks.
“With just one plot of land now available following these two high profile deals, Whitley is fast-fulfilling our goal of becoming a fully let, mixed use business-park occupied by prestigious companies.”
Martin Meech, Group Property Director of Travis Perkins said: “This is an excellent example of regeneration in action and investing for the future. Whitley Business Park is a superb location and this new distribution centre will directly benefit our business and our customers through improved efficiency and more streamlined operations. It is an example of intelligent regeneration done properly – adding value, supporting business and jobs, and looking to the longer term. We’re looking forward to building our future here.”
Ian McRae of commercial property agency Chadwick McRae, who acted on behalf of Travis Perkins, added: “Travis Perkins conducted extensive research into the best location for their distribution centre, and Whitley Business Park and Coventry ticked all the boxes. In a market of many buyers and few sellers, this deal reflects Whitley’s appeal.”
With a national network of more than 600 branches, Travis Perkins is one of the largest suppliers to the UK’s building and construction industry.
Shortland Penn + Moore and Savills acted for St. Modwen.