Date of issue: October 2019
St. Modwen submits plans for major speculative scheme in Basingstoke
– 195,000 sq ft of space could be available to potential industrial and logistics occupiers –
St. Modwen has submitted a detailed planning application to Basingstoke and Deane Borough Council to build three high-quality speculative units of 37,000 sq ft, 51,000 sq ft and 97,000 sq ft at an 11.3-acre industrial and logistics park in Basingstoke.
The developer’s submission is in cooperation with global, multi-industrial manufacturer and leaseholder ITT Inc. If permission is granted, St. Modwen will begin construction of the units in March 2020. The site is strategically located between junction 6 and 7 of the M3 and is expected to deliver up to 250 new jobs in the area once fully occupied.
Located within the wider Viables Business Park, the site will be known as St. Modwen Park Basingstoke and is part of the developer’s strategy to grow and retain a high-quality UK industrial and logistics portfolio. St. Modwen is creating the new employment space in response to strong occupier demand.
St. Modwen Park Basingstoke is located within 2 miles of the town centre and Basingstoke railway station, which provides direct services to London Waterloo, Southampton and the West Country. The development’s proximity to junctions 6 (2.2 miles) and 7 (4.1 miles) of the M3, provide good access to the M25, A303 and M27 while the scheme’s motorway connectivity also allows for fast access to London’s two major airports, Heathrow and Gatwick.
David McGougan, Senior Development Manager at St. Modwen Industrial & Logistics, said: “Together with ITT Inc., we are committed to delivering a wealth of job opportunities for Basingstoke. Our proposed development has access to a large potential workforce through its strategic location and excellent connectivity and we intend to deliver a scheme that answers the market demand for employment space.”
Ravi Patel, Director of European Shared Services at ITT Inc., said: “We look forward to working with St. Modwen in creating a new chapter for this site. The knowledge and expertise they have from developing high-quality, speculative schemes of this kind gives us confidence that together we can deliver a space that is fit for market demand.”
Marketing agents for the site, Jim London of London Clancy and Andrew Newman of Hollis Hockley, added: “Excellent connectivity to the major motorway network, direct rail services into London and fast access to both Heathrow and Gatwick airport make St. Modwen Park Basingstoke an attractive proposition. Occupiers in the Basingstoke area have long sought after a scheme of this nature and with St. Modwen delivering at pace, we anticipate a lot of interest from a very active market.”
For more information, visit: stmodwenlogistics.co.uk/property/st-modwen-park-basingstoke
For further information, please contact:
Tom Gough/Matt Walker
St. Modwen Properties PLC
T: 0121 222 9400
Lois Wilson / Chloe Baker / Ross Copping
T: 0121 285 3760
About St. Modwen
A FTSE 250 company, St. Modwen has over 30 years’ experience and a national portfolio of £1.47bn. Working across the full industry spectrum, we add value by managing schemes through the planning process, remediating brownfield land and active asset management and development.
Across our three dedicated business units, our highly-skilled people safeguard our principles of delivering high-quality, sustainable developments as a positive legacy for businesses and communities for years to come.
St. Modwen Industrial & Logistics designs, builds, owns and manages high-quality industrial & logistics assets in the UK, concentrated around major infrastructure and conurbations for our customers. Customers include some of the world’s biggest logistics and e-commerce organisations as well as significant national and regional enterprises. St. Modwen develop speculatively as well as ‘build to suit’ opportunities, delivering last mile facilities to national distribution centres. The vast majority of our new schemes are retained, with the business targeting 1.5m sq ft of new space in 2019. Longer term, St. Modwen has one of the UK’s largest pipelines with 15m sq ft, 60% of which has planning.