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Midlands developers launch 600,000sq ft development venture

Two Midlands developers have come together to launch a 600,000 sq ft speculative warehouse development venture.

The Oldbury-based Richardson property empire and Warwickshire-based St Francis Group are coming together to develop sites in Redditch and Kettering.

The Richardsons have acquired sites in Redditch and Kettering as part of the deal with St Francis.

The 23-acre Velocity 42 site at Park Farm Industrial Estate, Redditch, will see 330,000sq ft starting on site in summer 2018 with practical completion during 2019.

At Kettering a site close to junction 8 of the A14 will see 270,000sq ft developed in four units starting on site this spring with completion in early 2019.

The joint venture partnership will speculatively develop both schemes, which already have planning permission.

Mark Watkins, director at Richardson said, “We are already fielding several enquiries from prospective parties which we expect to announce details of shortly,” said Richardson director Mark Watkins.

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