St. Modwen Logistics, the logistics developers and managers and a Blackstone portfolio company, has continued its expansion with the acquisition of a modern warehouse unit in Burton-upon-Trent.
The 381,000 sq ft unit on the Centrum West Logistics Park is occupied by Palletforce, a leading freight company. The unit, which serves as Palletforce’s UK headquarters, is a high-specification cross-docked facility with low site coverage and parking provision for 238 HGV vehicles.
It is located in the heart of the town and is close to St Modwen Park Burton and adjacent to the A38 dual carriageway which connects to the M1, M6 and M42 motorways with 90% of the UK population reachable within a four-hour drive time.
The deal comes alongside the acquisition of a 180,400 sq ft distribution unit in Middlemarch, three miles south of Coventry city centre, occupied by Palletline, and supports the continuing expansion of St Modwen’s logistics platform, which was acquired by Blackstone, the world’s largest alternative asset manager, in 2022.
Over the last 6 months, over 1 million sq ft of space has been acquired, including assets in Hatfield, Alfreton, Birmingham and Manchester totalling c. 400,000 sq ft.
Oliver Smith, senior investment manager at St Modwen Logistics, said: “These facilities in Coventry and Burton on Trent present a rare opportunity to acquire prime warehouse units in the logistics ‘golden triangle’ and are part of the wider vital national infrastructure that are fundamental to supply chains.
“Alongside our ongoing development programme, they will meet the strong demand for high quality developments, allowing our customers to run and grow their businesses while helping them achieve their ESG ambitions.
“Both units offer excellent connectivity by road and access to a large logistics workforce, which make them futureproof as distribution hubs and we remain committed to expanding our footprint in the UK’s core logistics locations and are well-placed to capitalise on market opportunities.”
