ST. MODWEN has been granted planning consent for a 310,000 square foot industrial and logistics park located at the northern end of Stanton Cross, Wellingborough.
This represents the first milestone for the planned 1.5m square feet of commercial development at the site. This first phase of commercial space, to be called Stanton Industrial Park, comprises three separate buildings of between 44,000 square feet and 172,000 square feet.
The industrial and logistics park's location close to key transport links including the M1, A1M and the A45/A14 corridors, as well as the Midland Mainline, makes it a strategic hub for commercial development. It builds on St. Modwen's strategy to grow its presence in the UK industrial and logistics sector with a committed pipeline of 1.5m square feet of new space, having already delivered one million square feet in 2018, and is part of St. Modwen's commitment to delivering a leading UK portfolio.
Tim Seddon, Property Director (South East) at St. Modwen, said: "Stanton Cross is a strategic development in the region and a key employment site. This latest success reinforces our commitment to the sector, creating high-quality space for customers and is part of delivering on our strategy of significantly growing our UK portfolio by up to two million square feet annually. Stanton Cross will further boost the geographic diversity of our portfolio following our recent acquisition of a major logistics site in Poole, Dorset."
Nick Kay, Development Director at St. Modwen, said: "This is a landmark for the Stanton Cross development and for the region and shows our confidence in the market with a significant investment. Stanton Cross is set to become a thriving commercial hub, providing flexible space for businesses ranging from international companies to regional operators. We will now begin work to develop the Industrial Park and look to bring forward further sites at Stanton Cross."
Stanton Cross is Bovis Homes' 837-acre extension to Wellingborough that comprises 3,650 new homes and will provide employment space delivering up to 3,000 new jobs.
Bovis Homes chose St. Modwen in 2016 as its commercial development partner for Stanton Cross, the flagship mixed-use development for Northamptonshire, which is located on the eastern edge of Wellingborough, and which will see more than £1bn invested in the town.
Paul Soutar, Bovis Homes Divisional Operations Director responsible for Stanton Cross, said: "It's a very exciting time for Stanton Cross as we've welcomed our first homeowners and works on vital infrastructure is well under way. This latest news marks another significant milestone as the commercial development will provide a boost for the local economy and help drive the successful longevity of the scheme. Stanton Cross is now beginning to take shape and we look forward to making further progress throughout the year."
Agents for the park are Nicholas Roberts of Drake Commercial and Nick Hardie of BNP Paribas. For more information, visit: https://stmodwenlogistics.co.uk/property/stanton-cross-industrial-park/