Construction & Property

Published: October 28, 2019 | Updated: October 28, 2019

Boost for Poole as FTSE 250 developer submits multi-million pound plans to invest in town

An aerial view of the proposed St.Modwen Park Poole next to the A350 at Holes Bay.
By Andrew Diprose, editor

Plans to speculatively build three new units totalling just under 200,000 sq ft on a 10.8 acre site in Poole have been submitted to BCP Council.

FTSE 250 company St.Modwen only acquired the site, next to the A350 at Holes Bay, in April.

If planning permission is granted, construction on the units of 43,377 sq ft, 53,701 sq ft and 98,853 sq ft will begin next April with occupation as early as February 2021.

The scheme has a development value of £30m.

The proposed development’s strategic location is expected to particularly appeal to distribution and manufacturing companies looking to base themselves at the heart of the conurbation and its population of around 400,000.

David McGougan, Senior Development Manager, St. Modwen Industrial & Logistics, said: “Poole forms a key part of our strategy and we aim to bring a substantial amount of investment, opportunity and employment to the local area.

David McGougan

“The scheme has a development value of £30 million and is a key milestone in our industrial and logistics pipeline.”

Steve Williams of Realest and Nick Tutton of CBRE, marketing agents for the site, added: “St. Modwen’s progress from acquiring the site, to requesting planning and starting construction inside 12 months demonstrates its clear confidence in the industrial and logistics market.

“Once delivered, St. Modwen Park Poole will provide buildings of a size that are just not available currently and we expect this scheme to attract significant interest from potential occupiers.”

St. Modwen, which was founded more than 30 years ago and has three dedicated business units, has a £1.47bn national portfolio.

It is looking to grow its presence in the UK industrial and logistics sector with a committed pipeline of 1.6m sq ft of new space set to be delivered in 2019.