St Modwen secures second letting at Gloucester business park
St Modwen has secured a deal to bring multi-channel cookware specialist ProCook to St Modwen Park Gloucester.
ProCook, the UK’s number one supplier of kitchenware, has signed a 15-year lease and will occupy a high-quality 56,000 sq ft unit at the scheme.
The business is expanding from its existing premises at St Modwen’s fully let, neighbouring Gateway 12 business park, where ProCook also occupies a 43,000 sq ft unit.
The remaining speculatively built 74,000 sq ft unit from St Modwen Park Gloucester’s first phase, which was completed in January this year, is also now under offer.
ProCook will join neighbours and global manufacturers ADEY Innovation, which became the park’s first tenant in March, occupying a 45,000 sq ft unit.
The deal with ProCook comes as the developer receives detailed planning permission for the next phase of industrial and logistics space at St Modwen Park Gloucester. With this additional consent and site preparation works complete, St Modwen is now focusing towards Phase 2 delivery. The site also has the potential to deliver an industrial and logistics unit of up to 400,000 sq ft to meet specific occupier requirements.
Adjacent to Junction 12 of the M5 motorway, the 58-acre site forms part of a rolling programme of development. In addition to speculative builds, St Modwen is offering build-to-suit facilities of up to 400,000 sq ft, offering flexible warehousing space for businesses looking to move to the site’s prime location.
Peter Davies, Development Director at St Modwen Industrial & Logistics, says: “Now that Gateway 12 is fully-let, our focus in Gloucestershire is firmly on this 935,000 sq ft scheme and to have two-thirds of our first phase brand-new speculative units let and the remaining 74,000 sq ft under offer is testament to that level of attention. ProCook and ADEY Innovation are leading industrial and logistics businesses and we’re looking forward to welcoming more occupiers to this prime location on Junction 12 of the M5 motorway.
“We are now starting phase 2 which comprises of four speculative units and 189,000 sq ft in detached units between 37,000 sq ft and 54,000 sq ft. Discussions are underway with businesses looking to occupy this prime location with completion summer 2021.”
Daniel O’Neill, Founder at ProCook, adds: “Our decision to expand to St Modwen Park Gloucester was straightforward. The developer has delivered units of industry-leading specification and having acquired our space at Gateway 12 from them previously, we knew that this was the right call. The additional space will enable growth & for us to split our internet, retail fulfilment and replenishment operations and we look forward to moving in.”
Adrian Rowley at Alder King added: “The timing of the ProCook deal is particularly pertinent with St Modwen moving forward to deliver the next phase. It undoubtedly confirms the market demand for high-quality industrial and logistics space in prime locations across Gloucestershire and discussions around further units remain positive and ongoing.”
Alder King and DTRE are the joint agents for this scheme.