St Modwen is drawing up plans for a 1m sq ft distribution park in the heart of Birmingham, replacing a factory that once produced hundreds of London’s Tube trains.
The 56-acre Washwood Heath site was sold to St Modwen and Kuwait-based Salhia Real Estate in 2002 as part of a £111m sale-and-leaseback by French firm Alstom, which stopped production there last year.
Most of the vacant site is let to the indebted engineering firm until 2012, but the St Modwen joint venture Key Property is talking to Alstom about a surrender so that its £80m redevelopment plans can proceed.
To be named Heartlands Park, it is one of the few city locations capable of housing a single rail-connected, 500,000 sq ft distribution shed.
John Dodds, regional director of St Modwen, said: “We’re talking to a couple of potential occupiers about design-and-build packages for up to 350,000 sq ft.”
Key Property is advised by Savills and CB Richard Ellis.
References: EGi News 21/11/05
