St Francis Group announces plans to develop new 20 acre logistics and industrial development in Redditch.
Site is the largest readily available development opportunity south of Birmingham on the M42.
St Francis Group, a leading UK-based property development & investment group has today announced plans to transform a former industrial wasteland into a major new logistics and industrial development on the much sought after M42 Birmingham logistics corridor.
St Francis Group is developing the former Redditch Tubes site on Old Forge Road, Redditch for a range of new industrial warehouse units totalling nearly 400,000 sq ft on a 20-acre site close to Junction 2 M42.
Speaking about the development St Francis Development Director Gareth Williams said “The site was acquired in May of this year. Ground works began almost immediately and will be complete in time for Christmas. That means that construction could start very early in 2017 with new units available for occupation by the autumn of that year.”
Going on to say “There is a large and established manufacturing and logistics sector in Redditch with well-known businesses including Lear Corporation, Pilkington, Halfords, Toolstation and Heller.
The site is also close to several major JLR sites, so we’d expect strong interest from companies in their supply chains as well as other logistics and distribution operators. With so little available stock in the local area, we are pleased to finally be able to bring forward such a well located site that can so quickly meet the requirements of occupiers struggling to find suitable new space.”
Also commenting, Director Carl Durrant of JLL’s Birmingham Office, letting agents for the scheme said “This development represents the largest readily available Industrial opportunity south of Birmingham on the M42. Redditch has few voids and demand within the area for good quality industrial buildings is strong. We are confident that the site will attract interest from not only local occupiers looking to stay in the area, but also companies looking to relocate to the area. We expect to quickly establish a strong dialogue with local occupiers looking for good quality space in the 35,000 sq ft to 150,000 sq ft range”
Gareth Williams added: “This site is typical of the type of opportunity we are targeting and compliments our other development activities elsewhere throughout the UK where strong occupier demand and poor levels of stock challenge companies that are either consolidating or expanding.”
Founded in 1973, The St Francis Group has established itself in the UK property market as an innovative owner, manager and developer of high quality commercial and residential property. With in-house financial resources and a dynamic management team, it adopts a highly successful approach to brownfield renewal with opportunistic acquisitions, joint ventures, asset management and where necessary, a longer term strategic approach.
The Group’s development pipeline covers all market sectors but with a particular emphasis on commercial and residential brownfield opportunities. The Group is currently managing the delivery of remediation and infrastructure projects to create residential plots and in excess of 850,000 sq. ft. of commercial space to meet present day occupier requirements across its portfolio.