Stoford and Blackbrook secure forward funding deal for logistics assets in the West Midlands

Commercial developer Stoford has completed a forward funding deal with Blackbrook for the delivery of two new warehouse facilities in the West Midlands.

The project will deliver nearly 450,000 sq ft of new logistics accommodation as part of the second phase of Redditch Gateway, a multimillion-pound logistics and manufacturing scheme south of Birmingham.

Blackbrook will acquire the freehold interest in both new developments upon their completion in late 2023.

Dan Gallagher, joint managing director at Stoford, said: “We are very pleased to have reached an agreement with Blackbrook to deliver this best-in-class development, serving the supply constrained south Birmingham market.

“Redditch Gateway has already provided significant inward investment and many new jobs for the area and this final phase will generate more sustainable and local employment for Redditch.”

Jon Strang, managing director at Blackbrook, said: “Across the UK, there is a shortage of facilities that can provide the high-power supply that today’s occupiers are looking for – particularly with the onset of automated warehouses and electric vehicles.

“To meet this growing demand, and in line with Blackbrook’s strategy to develop future-proof supply chain infrastructure, we are delighted to be working with Stoford to bring to the market two new facilities that will be built to the highest sustainability standards.”

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