The deal is the final letting of St. Modwen’s second phase of development at St. Modwen Park Burton, which was completed six months ago. It comes two months after the developer welcomed Keylite Roof Windows and Supply Technologies to the site, taking up a 40,730 sq ft unit and a 25,446 sq ft unit respectively. This followed Hellmann Worldwide Logistics taking occupation of a new 87,000 sq ft distribution facility in August 2017.
St. Modwen began construction on its third phase of development last month and is now speculatively building a 103,000 sq ft industrial unit, due to be completed in September 2019. The developer has also submitted a further planning application for a fourth phase of speculative development. If approved, an additional 216,000 sq ft of space will be delivered across four units of 38,000 sq ft, 41,000 sq ft, 58,000 sq ft and 79,000 sq ft.
Rob Richardson, Senior Development Manager at St. Modwen, said: “London City Bond is a quality firm with fascinating heritage and we’re pleased that we’ve been able to accommodate the expansion of such an established national organisation.
“St. Modwen Park Burton has attracted a number of fantastic businesses and reaching full occupancy for Phase 2 is testament to the site’s location, the quality of the build and our understanding of the wants and needs of the industrial and logistics market.”
David Hogg, Sales Director at London City Bond, said: “This year marks a vintage year, our 30th anniversary, and being able to grow the business here in Burton is the icing on the cake for us. We’ve entered into a long-term lease with St. Modwen, demonstrating our commitment to the area and we’re pleased to be creating further employment opportunities for local people.
“The first customer to occupy the new unit will be Seedlip, the world’s first non-alcoholic spirit brand which is enjoying remarkable growth in the UK and internationally, with major wine customers due to follow. Our customers recognise that St. Modwen Park Burton is an ideal location for storage and distribution.
“Working alongside St. Modwen and its agents has been a pleasure and as we continue to grow, we may well be in need of their services again soon.”
Joint agents Edward Kennerley, Associate at Knight Frank, and Katie Aitchison, Associate Director at Savills, added: “St. Modwen Park Burton has proved to be an incredibly popular scheme and the interest we have received for the units at Phase 2 has exceeded our expectations. St. Modwen has delivered a scheme of three units that are tailored to exactly what the market needs in this location.
“The quality of the units and the Park itself have impressed businesses, meaning we are confident of having the same successes moving forward with future development at St. Modwen Park Burton.”