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Planners approve 113,500 sq ft Staffordshire warehouse

Planners approve 113,500 sq ft Staffordshire warehouse

Planners have approved a 113,500 sq ft Staffordshire warehouse to be built with the backing of a Jersey-based unit trust.

The move comes as investors decide that rapidly rising prices means the easiest way to acquire new industrial property is to pay for it to be built.
The speculative scheme at the 37-acre Redhill business park, Stafford will see a single unit built by Birmingham-based Trebor Developments and pan-European investors Rockspring, via a Jersey-based trust.

The Rockspring investments comes soon after it teamed up with Caisson Investment Management to pay for a portfolio of £30m of UK warehouse and industrial property including the 250,000 Haydock industrial estate and 120,000 sq ft Hanover Road industrial estates in Greater Manchester, the 106 Moor Park Wat estate in Darlington and a 96,000 sq ft warehouse at Erith, south London.

The Staffordshire project, to be named Triton, has also been backed by £10.7m from Staffordshire county council, who are promoting Redhill as a regional business location. The site is close to the A34 and M6 Junction 14 Construction work will be completed at Redhill by Summer 2016.

JLL and NRS are letting agents.

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