St. Modwen Logistics announces £46.5m investment in Derby
Published: 21 December 2021
St. Modwen Logistics, a leading logistics developer and manager, is set to deliver its most sustainable high-quality warehouse space to date that could create up to 1,250 new jobs, boosting the local Derby economy and transforming a 67-acre brownfield site. The initial phase will comprise investment of £46.5 million to acquire land from joint venture partner Network Rail and deliver the first four logistics units. Phase 2 is expected to follow within the next two years and will deliver the remaining 550,000 sq ft of warehouse space, completing the transformation of the site.
The announcement is the culmination of seven years’ work between St. Modwen Logistics, Derby City Council and Network Rail, to bring forward the land for regeneration which previously formed part of industrial railway sidings.
As part of the first phase of development, St. Modwen will speculatively build four high-quality industrial and logistics units of 39,000 sq ft, 54,000 sq ft, 79,000 sq ft, and 131,000 sq ft. Totalling 303,000 sq ft; Phase 1 is due to be completed and ready for occupation in September 2022.
St. Modwen Park Derby will showcase the St Modwen Swan Standard – a set of industry-leading sustainable development guidelines, with a focus on responsible building practices and the needs of its customers and employees.
The Park will target BREEAM Excellent standard, demonstrating significant investment and innovation in sustainability above current regulation and practice. Each unit is to come complete with a photovoltaic (PV) system, and combined with enhanced building fabric, building services and on-site generation, is expected to achieve over 50% carbon reduction compared with energy requirements set out in the UK Building Regulations (Part L).
The Park will feature a number of health and wellbeing enhancements such as a fitness trim trail, landscaped areas with outdoor seating for customers’ employees, riverside walks, and a cycle path. Biodiversity and sustainable environments will also be integrated into the Park, which is bordered by The Sanctuary Bird and Wildlife Reserve. These features will contribute to St. Modwen Logistics’ key ethos of delivering quality places to work and improving the environment for those living close by.
Polly Troughton, Managing Director at St. Modwen Logistics, said:
St. Modwen Logistics is committed to investing in regeneration projects with the aim of supporting local economic growth and generating jobs for local communities. Through the development of this high-quality warehouse space, underpinned by our ESG commitments and the needs of our customers, we hope to welcome new and existing businesses to St. Modwen Park Derby and look forward to seeing them grow and thrive here.
Gary Walsh, Route Director at Network Rail East Midlands, commented:
We have been working closely with St. Modwen Logistics over recent years to bring this brownfield site forward for redevelopment. We’re delighted to have concluded the sale of the land to St. Modwen and look forward to seeing our joint vision come to fruition over the coming year.
Councillor Steve Hassall, Cabinet Member for Regeneration, Decarbonisation & Strategic Planning & Transport, Derby City Council added:
Following on from the recent completion of the A52 Wyvern Improvement Scheme, we are delighted to see St. Modwen bring forward this key employment site to the city. The land has been sitting empty for some time and will soon undoubtedly provide a very attractive option for businesses in the region, with easy access to Derby city centre, as well as the A50 and M1.
This is yet another excellent example of investment confidence in our fantastic city and demonstrates that Derby is not only open for business, but is fast becoming the go-to location for businesses who can see the huge potential of operating from here.