St. Modwen delivers solid results and makes good progress in executing new and focused strategy
Guy Gusterson, Property Director Midlands and North, said:
“The Midlands region saw continued growth in 2017, with a marked rise in both rentals achieved and occupier rates.
Successful deals in the last year have included land sales to third party housebuilders at Uttoxeter and Longbridge, and the sale of the shopping parade at Branston Square. These have released over £15m in capital for our strategic priorities of industrial, logistics and residential development.
Our commercial portfolio in the region saw over 500,000 sq ft delivered, with over 1 million sq ft in the pipeline for 2018, much of it speculative build space, including Tamworth Logistics Park and phase two of Burton Gateway.
Continued progress at our flagship development at Longbridge has seen the completion of the Extra Care retirement village, and staff facility for the nearby Royal Centre for Defence Medicine (RCDM), with phase one of the 500,000 sq ft Longbridge West Business Park commencing in September.
The next 12 months look very encouraging for the Midlands, as we continue to expand our development pipeline and secure further opportunities.”
View the results here.