St Modwen attracts global manufacturer to Gloucester industrial and logistics site
St Modwen has completed a deal to bring global water treatment and magnetic filtration manufacturer ADEY Innovation to St Modwen Park Gloucester.
Occupying a 45,000 sq ft unit, the company is one of Europe’s largest water treatment manufacturers and the inventor of the MagnaClean magnetic filter, used in the heating systems of more than five million homes.
The first phase of development at the site completed in December 2019, with 175,000 sq ft delivered in the form of three quality, well-located and flexible units – ideal for medium-sized industrial and logistics businesses.
Adjacent to junction 12 of the M5 motorway, the 58-acre site forms part of a rolling programme of development. In addition to speculative build, St Modwen can deliver build-to-suit facilities of up to 300,000 sq ft, offering flexible warehousing space for businesses looking to move to the site’s prime location.
Peter Davies, Development Director at St Modwen, says: “Our decision to speculatively develop at St Modwen Park Gloucester is already paying off and demonstrates demand for space - securing ADEY Innovation before the build completed and with other occupiers also in discussions for buildings is testament to this. The first phase has been built with modern-day occupier requirements in mind and is well-suited to companies who are looking to expand in this strategic location.”
Lee Carlin, Director of Operations at ADEY Innovation, says: “The decision to move to St Modwen Park Gloucester reflects our desire to continue evolving as a company and developing innovative and preventative heating solutions. As we continue to expand, we have to ensure our place of business is in line with our growth ambitions and the site suits our requirements perfectly.”
Joint agents for the scheme, Adrian Rowley, Partner at Alder King and Richard Harman, Equity Partner at DTRE, adds: “St Modwen Park Gloucester is already firmly on the map as a desirable location for industrial and logistics businesses. The scheme appeals to firms of all sizes due to the close proximity of the M5. It means the site provides vital transport links and is accessible from residential areas for recruitment and retention.”
St Modwen Park Gloucester is one of three St Modwen sites in Gloucestershire alongside the GBP22 million Gateway 12 Business Park and GBP150 million mixed-use scheme at Littlecombe in Dursley.