M&G Real Estate has agreed a deal with St Modwen to forward fund a new shed for Screwfix which will double the size of its Stoke on Trent distribution hub.
St Modwen built the Trentham Lakes facility in 2004 and has secured planning permission to extend the development on an adjoining 8.38 acres of land which it will sell to M&G.
The deal will see the existing facility double in size from 320,000 sq ft to 630,000 sq ft.
Work is expected to start on site in August and take one year to complete.
Knight Frank represented Screwfix. M&G Real Estate and St. Modwen were unrepresented.
