St Francis Group has formed a joint venture with the Richardson family to speculatively develop more than 600,000 sq ft of warehouse space.
The pair will develop the space in Redditch, Worcestershire, and Kettering, Northamptonshire.
In Redditch, the Velocity 42 project is a 20-acre site at Park Farm Industrial Estate. It will include 330,000 sq ft of industrial and warehouse space in units ranging between 39,000 sq ft and 141,000 sq ft.
Work is expected to start on site in summer, with practical completion during 2019.
Cransley Park in Kettering, by junction 8 of the A14, will include 270,000 sq ft of industrial and warehouse space in a range of four units from 25,000 to 100,000 sq ft.
Work is expected to start in spring with practical completion in early 2019.
As part of the agreement, St Francis has completed the sale of both sites to the Richardson family and the joint venture partnership will speculatively develop the schemes together.
Both sites were originally acquired by St Francis as brownfield sites and were fully remediated by DSM Demolition, its sister company. Full planning consents have since been secured.
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