St Modwen reports robust demand for industrial space & land in Midlands3rd July 2012

St Modwen has announced its half year results today. John Dodds, Midlands Regional Director for St. Modwen commented on how the results are reflected in the region:

“Within our £1 billion flagship regeneration of Longbridge, development continues on the £70 million new town centre that started in May. Construction has started on the 85,000 sq ft Sainsbury’s store while the works have also begun on the other retail units, the Premier Inn Hotel and restaurant and on 37,000 sq ft of new office space. In addition, talks are continuing with a major retailer on the possibility of taking an anchor store. The total investment in the site has been £250 million since it was acquired in 2003 and over 1,200 permanent jobs have been created, as well as construction jobs. Last month Bromsgrove District Council has also approved an application for up to 725 new homes at Longbridge East.

“St. Modwen continues to be very active elsewhere in the region, for example, we have been selected by Dyson Group plc as its promotional partner for the preparation and disposal of some of its surplus land assets. This extensive portfolio offers us an opportunity to work with Dyson across our regional offices in North Staffordshire, The Midlands and Yorkshire.

“In addition, with phase 1 of the Hednesford Gateway scheme in Cannock Chase almost complete, construction work is also underway on phase two, Victoria Shopping Park, due for completion in time for Christmas 2012 trading.

“Meanwhile, demand for industrial space and land in the Midlands has been robust throughout the first half of the year and the great majority of our new stock is fully let.

“With this strong and active development portfolio across the Midlands we have a range of projects at various stages that will keep us active throughout the remainder of 2012 and well into the future.”