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Robert.Jervis_43227 Sep 04

St Francis Group announces major plans for Birmingham with new purchase

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A 29-acre site is the latest industrial/warehouse scheme brought forward by the developer as it continues to expand its development pipeline
St Francis Group, a leading UK-based property development and investment group and an expert in brownfield development and regeneration has announced that it has assembled a site of 29 acres in Kings Norton, Birmingham for the development of new industrial warehouse space.

Announcing the purchase of the Pilkington Automotive and GKN Aerospace sites, the speculative development of a 400,000 sq. ft multi-unit scheme will be funded by the Richardson family making this the third collaboration between the two parties following the successful development and sale of Velocity42 in Redditch and Cransley Park in Kettering.

A detailed planning application will be submitted later this year with work on site scheduled to begin once the existing occupiers vacate next year. The new proposals could create around 900 new jobs.  

Speaking about the announcement Gareth Williams, Director at St Francis Group said:

“We are delighted to have secured these strategic sites and to be able to promote a scheme in the heart of the greater Birmingham conurbation. We have seen a huge growth in the mid box industrial warehouse market, and we will be aiming to meet that demand with 8 new energy efficient units ranging from 25,000 sq. ft to 70,000 sq. ft.

“We recognise the value in higher performing sustainable assets and so we are looking to develop units using construction standards that exceed occupier expectations throughout their life cycle.”

New units will be ready for occupation by the end of 2022. Marketing for pre-let deals will begin immediately. Savills and JLL have been retained as sole letting agents on the scheme.

St Francis announced the sale of 561,000 sq ft of logistics space at Velocity42 in Redditch and Cransley Park in Kettering to Tristan Capital Partners on Friday 4th September.

A Tristan Capital Partners fund has bought a £68m UK logistics portfolio from the Richardson family.  

The portfolio which also includes a unit of 105,000 sq. ft in Avonmouth developed by Curtis Hall, consists of 11 new-build logistics buildings.

Talking about the deal Gareth Williams, Director at St Francis Group said:

“During difficult times we are delighted to have been able to capitalise on continued investor appetite for high quality and well-located industrial warehouse stock.  The St Francis Group building specification has evolved into a superior yet economical product and having regenerated both former brown field sites, we are delighted to see them sold into long term ownership.”