St. Modwen said it has secured a deal with Stoke-on-Trent City Council for the local authority to acquire a stake at St. Modwen Park Stoke Central, after getting planning permission to develop a further 8,000m² at the site.
St. Modwen Park Stoke Central (formerly known as Etruria Valley) is said to be one of Staffordshire’s premier employment sites, forming part of the 300-acre Festival Park scheme.
The third phase of development will commence this month (July), with St. Modwen building the 4,000m² for the City Council in addition to 4,000m² of industrial/logistics units, which will be available to lease.
Euan Lindsay, Senior Development Manager at St. Modwen, said: “The scheme for Stoke-on-Trent City Council will provide a range of small employment units to a market with an encouraging level of demand. We’re very pleased to be assisting the council in creating and securing employment opportunities in the city.
“The additional units will provide first-class industrial and logistics space for companies looking to secure well-located, quality accommodation.”
Cllr Janine Bridges, Cabinet Member for Economy at the City Council, said: “We’re focused on increasing economic growth, maintaining and creating new local jobs and bringing prosperity to the city. Continuing to attract investment to the area is vital to sustained economic growth and for creating opportunities for residents and businesses.
“It’s significant that a regeneration specialist like St. Modwen continues to invest in Stoke-on-Trent, and to me that shows our approach to economic growth is working and that we are moving in the right direction.”