Wed, 04/06/2014 - 12:39
M&G Real Estate, in partnership with St Modwen, plans to double the size of its Trentham Lakes distribution facility in Stoke on Trent occupied by multi-channel trade retailer, Screwfix.
St Modwen, developer of the original facility at its Trentham Lakes site in 2003/04, has obtained planning permission and will construct the extension on an adjoining 8.38 acres of land to be sold by St Modwen to M&G Real Estate as part of the deal.
Planning permission has been granted and a start on site is expected in August 2014 with a 12 month estimated construction period.
The existing facility is set to increase from 320,000 sq ft to 630,000 sq ft, enabling Screwfix to consolidate and expand its existing operations, safeguarding the current 430 positions and creating 100 additional full time jobs in the area. It will also provide the potential for a further 200 employment opportunities in the future. The extra space will facilitate next day delivery services for both Screwfix and B&Q to be managed at one centralised location by parent company Kingfisher Group.
David Crowley, director, asset management at M&G Real Estate, says: “We are very pleased to have been able to work with St Modwen and Screwfix to create what will be a fantastic modern facility. It is a great example of active asset management, which will produce excellent future returns for our client.”
Euan Lindsay, senior development manager at St Modwen, adds: “The decision to expand the Screwfix facility at Trentham Lakes highlights the success of the existing facility and Kingfisher’s confidence in the location of both Trentham Lakes and Stoke-on-Trent for logistics operations. We very much look forward to continuing to work with Screwfix, Kingfisher and M&G Real Estate to complete the extended facility, which will not only safeguard jobs, but bring about further employment opportunities in the area.”
Knight Frank represented Screwfix. M&G Real Estate and St Modwen were unrepresented.
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