Construction has started on a huge new industrial development in the West Midlands.
Birmingham-based developer Stoford is leading the second and final phase of the Redditch Gateway scheme near junction three of the M42.
It is constructing two new grade A warehouses that will deliver around 450,000 sq ft of logistics accommodation to the market.
They have been forward funded by European independent real estate investor Blackbrook which will acquire the freehold interest in them once they are completed towards the end of this year.
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The new units will be 160,208 sq ft and 286,328 sq ft respectively and are being built on the southern parcel of the 78-acre Redditch Gateway site. Winvic Construction has been appointed as contractor to deliver the works.
Stoford’s joint managing director Dan Gallagher said: “We are developing two highly specified logistics assets with Blackbrook, that will offer significant benefits to occupiers in terms of connectivity, power supply and future-proof environmental, social and governance credentials.
“Redditch Gateway is an exciting logistics manufacturing development in a key distribution area that is serving demand in a supply-constrained, regional marketplace.”
Blackbrook managing director Jon Strang added: “We’re delighted with Stoford’s progress on this project and to be closer to bringing two new logistic facilities to the market.”
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“Redditch Gateway is one of Worcestershire’s major commercial property developments, part of our 2040 Plan for Growth, to provide more commercial space for businesses.
“This development is helping to attract businesses to the region, boosting local jobs and crucially the economy for Worcestershire.”
Phase one of the scheme saw the development of a new 534,000 sq ft warehouse building that was pre-let to online retailer Amazon and included a £6.5 million investment in infrastructure and traffic access works.
Stoford is development partner for Redditch Gateway South, working alongside landowners, The Gorcott Trust and Homes England.
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