Warehouse Acquisitions in Birmingham, Manchester
2nd February 2023
St. Modwen Logistics, one of the UK’s leading warehouse developers and managers, has completed two acquisitions in Birmingham and Manchester as it continues to expand its portfolio in major cities across the country.
Network Park industrial estate is situated 1.7 miles from Birmingham City centre and was constructed in the early 2000s, comprising six high-quality modern warehouse units totalling c.80,000 sq ft.
In Manchester, St Modwen Logistics has also acquired Ashburton Park. The c.95,000 sq ft estate is prominently located 3 miles from Manchester City centre at the heart of Manchester’s Trafford Park, one of the largest and most successful business parks in Europe, which is home to over 1,300 businesses employing over 35,000 people.
James Cooper, Head of Transactions, at St. Modwen Logistics, commented: “These acquisitions further expand our footprint in two of the UK’s most established and competitive industrial and logistics locations, offering our customers access to national and international distribution networks, as well as to large urban populations which increasingly value next-day and same-day delivery services.
“We are continuing to explore additional opportunities to grow our portfolio through the development and acquisition of best-in-class logistics space in areas of structurally high demand.”
St. Modwen is a property developer owned by Blackstone focused on logistics and housebuilding. The company aims to deliver for customers through two dedicated businesses: St. Modwen Logistics, which designs, builds, owns and manages high-quality logistics assets in the UK, and St. Modwen Homes, which creates high-quality, contemporary new homes.
St. Modwen Logistics develops and manages urban and big box warehouses for customers including global logistics and e-commerce organisations as well as significant national and regional enterprises. We aim to deliver c. 2.2m sq ft of new warehouse space during 2022 and have one of the UK’s largest pipelines at c. 19m sq ft.