Leading commercial property developer, Stoford has announced plans for the next phase of development at a £200 million logistics and manufacturing scheme near Redditch.
A reserved matters planning application has been submitted for the speculative development of almost 450,000 sq ft of new industrial and logistics accommodation at Redditch Gateway, near Junction 3 of the M42.
Stoford plans to build two new warehouse units ranging in size from 160,208 sq ft – 286,328 sq ft, that will include an integral hub and office space, 15m clear eaves height, a secure yard and parking.
The units will be developed on the south side of the 78-acre Redditch Gateway site, off the A4023 Coventry Highway, which is fully serviced and delivers a 9.5 MVA power supply. The development proposes updates to the external trim trail and creation of an external gym area.
Works will commence on site in autumn 2022 subject to planning and units could be ready for occupation from summer 2023.
Redditch Gateway will deliver almost one million sq ft of brand new office, logistics and manufacturing accommodation when complete. The scheme includes a new 534,000 sq ft warehouse building to the north of the site in Stratford-on-Avon, which was pre-let to a multinational technology company.
Stoford has been appointed as lead developer for Redditch Gateway, working alongside landowners, The Gorcott Trust and Homes England. The scheme is being supported through a blend of grant and loan funding of £1.7 million from Worcestershire Local Enterprise Partnership (WLEP) through its Growing Places Fund and a £1.8 million grant from Greater Birmingham and Solihull Local Enterprise Partnership (GBSLEP).
Dan Gallagher, Joint Managing Director of Stoford said: “We are excited to be submitting proposals for the next phase of Redditch Gateway. There is strong occupier demand for industrial and logistics accommodation of this quality in the region, which is why we are planning to develop speculatively. The scheme is superbly located in a prominent distribution area of the Midlands and benefits from excellent road transport links. It has the potential to deliver substantial economic benefits, creating jobs for local people and boosting the regional economy.”
Gary Woodman, Chief Executive of WLEP, said: “We welcome the news of the planning submission to expand the Redditch Gateway site. This site is one of Worcestershire’s key investment opportunities and is addressing a key challenge for the county to supply the growing demand for business units. As part of our 2040 Plan for Growth for Worcestershire, opening up more investment land for businesses is a key objective for the Local Enterprise Partnership to help support business growth and boost the local economy. I look forward to seeing this next phase of the Redditch Gateway site progress forward.”
Anita Bhalla, Interim Chair of GBSLEP, said: “These latest proposals demonstrate how Redditch Gateway is meeting the demand across our region for high-quality industrial developments. To date, the site has also created jobs for local people in a time where many were struggling due to the pandemic.
“Our £1.8 million investment in Redditch Gateway is an example of how we use our triple helix structure of bringing public, private and academic sectors together to drive forward inclusive economic growth. GBSLEP is committed to supporting schemes like this one which are already delivering on their potential to support and grow the local economy.”
Councillor Matt Dormer, Leader of Redditch Borough Council, said: “This is exciting news and demonstrates that this Council is delivering on its promises to regenerate Redditch and unlock its full potential which has previously been lying dormant. Most importantly we are creating jobs for our residents and providing them with the opportunity to work locally and boost our economy with their skills.”
Councillor Tony Jefferson, Leader of Stratford-on-Avon District Council, said: “This site was identified in our Core Strategy as a key employment location. At a time when UK economic growth is stalling, we are supportive of such developments. We will, however, need to ensure that the planning application is in accordance with our Core Strategy and the inevitable traffic issues are adequately addressed.”
Councillor Marc Bayliss, Cabinet Member for Economy, Infrastructure and Skills, Worcestershire County Council said: “We are looking forward to seeing the Redditch Gateway development continue to progress, and seeing the high value jobs, and the inward investment it will bring to our county.”
Tim Davies, Senior Development Manager, Homes England, said: “This is great news for the scheme and for the region which will facilitate opportunities for local people and businesses. The scheme has taken eight years to get to this stage, which is testament to Stoford in having the vision and capability to deliver it.”
Redditch Gateway is being marketed by Burbage Realty, Colliers International and Savills. For more information, visit: https://www.redditchgateway.com/