St. Modwen Logistics has committed £126m for the speculative development of three logistics sites in the South West, developing a total of 885,000 sq ft of industrial logistics warehousing.
With the South-West recently identified as one of the fastest growing economic regions in the UK, St. Modwen Logistics will develop eight units across three different sites in Avonmouth, Chippenham and Newport.
A total of up to 1,200 jobs are expected to be created across the region as a result of the new units. As well as warehouse space, there will also be approximately 50,000 sq. ft of office space across the eight units, meaning the new buildings will support a diverse range of job roles.
In Avonmouth, 157,000 sq. ft of space will be developed across three units at St. Modwen Park Access 18, with a planned completion date of May 2023. Meanwhile, work on St. Modwen Park Chippenham began earlier in September and will see two units developed totalling 452,000 sq. ft with businesses able to move in from July 2023.
Finally, St. Modwen Park Newport will see three units totalling 274,000 sq. ft of space developed, creating more than 350 jobs in the process, with a planned completion date of summer 2023.
Aligned with the Government’s ‘Levelling Up’ agenda, these developments will contribute to the economic growth of the region and allow local businesses to increase productivity levels. Research shows that the logistics sector is a highly productive one – contributing £127bn GVA to the UK economy– giving further evidence that St. Modwen Logistics is supporting the South-West by helping to create a high wage, high skill local economy.
Polly Troughton, Managing Director of St. Modwen Logistics, said: “Demand for warehouse space in the South-West continues to be high and the region has recently experienced its best quarter for take-up levels since the end of 2020. As a result, locations such as Chippenham, Avonmouth and Newport have become prime spots for businesses – leading to a scarcity of warehouse space in these areas.
“Through the much-needed development of almost 900,000 sq. ft of new space, we are meeting high levels of demand and encouraging economic growth in the South-West. We look forward to seeing our warehouses support economic growth and welcoming new customers across all three parks.”
The new warehouses will be built to the St. Modwen Swan Standard – a set of guidelines which supplement park enhancements across five key areas, including the environment. The units will come with a range of sustainability features as standard, including an EPC A and BREEAM Excellent rating, placing them in the top 10% of new, non-domestic buildings in the UK for their sustainability performance. The buildings will also have EV charging points and solar panels included as standard for units over 70,000 sq. ft
Biodiversity is also a key consideration of the Swan Standard guidelines. St. Modwen Park Access 18 at Avonmouth is a 100-acre site, consisting of 45 acres of build space and 55 acres of green space and waterways – enhancing the ecology of the entire development and providing natural habitats for local wildlife.
The developments in Chippenham and Newport will also incorporate sustainable drainage and landscaping to enhance the biodiversity of the sites, whilst the external park spaces will provide areas for park employees to exercise and relax throughout the working day.