St Modwen inks 10-year lease with Hellman at Staffordshire site

St Modwen Properties said on Friday it had secured its first letting of the 1m square feet of industrial and distribution space at Burton Gateway commercial business park in Burton-on-Trent.

The regeneration specialist confirmed Hellmann Worldwide Logistics would be the first tenant at the property, having signed a 10-year lease for a 87,716 sq ft unit.

A 280-acre wasteland site, St Modwen, in conjunction with local authorities and key stakeholders, carried out extensive works to support the regeneration of the area and accelerate the growth of nearby commercial and residential developments.

St Moden also announced it had recently submitted paperwork for the first phase of a further development on the M42, known as Tamworth Logistics Park, which if approved would become a 677,000 sq ft site used for industrial, storage and distribution purposes.

The two sites are part of the company's growing focus on the development of industrial and logistics sites.

Andrew Sulston, director of contract logistics at Hellman, said, "The opening of this distribution center at Burton Gateway represents the second brand new warehouse for the UK Contract Logistics division of Hellman Worldwide Logistics within the last two years and gives Hellmann the capacity to continue this rapid growth in the UK Contract Logistics market. We have worked with St. Modwen to ensure the building meets our existing and future business needs and we are delighted with the result. We are looking forward to the opportunities created by the move and the continued development of the Burton Gateway business park."

Shares had dipped 2.02% to 340.00p as of 1150 BST.