ProLogis has won a highly sought-after 64-acre Midlands development site.
The company beat 20 other bidders to be selected by Advantage West Midlands for the £45m redevelopment of the former Sideway Colliery in Stoke-on-Trent.
Land in the area is typically sold for around £300,000 per acre.
The regional development agency was keen to see a landmark “green” development on the site, which English Partnerships has reclaimed at a cost of £10m as part of the National Coalfields Programme.
Rival bidders included Gladman which put forward plans for a 400,000 sq ft business park, saying it could provide more than three times the jobs produced by a distribution scheme.
And logistics developer Gazeley submitted proposals based on its EcoTemplate, which includes solar panels, wind turbines and rainwater harvesting systems as well as state-of-the-art insulation.
However, market sources said AWM had preferred ProLogis’s attempt to outdo Gazeley’s award-winning design.
Steve Holland, head of asset management at AWM, said: “Sideway will be a benchmark development for the rest of Europe’s commercial property industry.
“It will be developed to the highest standards of architecture, industrial building design and sustainability.”
ProLogis’s plans are likely to include around 500,000 sq ft of distribution warehouses together with space for small- to medium-sized companies.
Before news of the deal emerged, Gazeley chairman John Duggan said: “It is great news that our competitors are starting to follow our lead.
“Prior to the launch of the Gazeley EcoTemplate two years ago, it would have been unimaginable for distribution developers to compete on an eco platform.”
North Rae Sanders acted for ProLogis; King Sturge and Daniel Hulme for AWM.
References: EGi News 05/12/05
