Due for completion in 2024, this next phase will deliver a 147,000 sq ft warehouse which has already been pre-let, as well as four new additional buildings totalling approximately 200,000 sq ft.

The quintet of new warehouses will be built to the developer’s ‘Swan Standard’ for sustainable construction; meaning they will be highly energy efficient and come with an EPC A+ rating.

All five units will be fitted with rooftop solar panels as standard.

In line with the Midlands-based company’s commitment to sustainable development, St Modwen also aims to strengthen biodiversity at the park through the creation of a new riverside nature corridor — adding to the 17,000 trees and shrubs already planted as part of the first phase of construction.

St Modwen invested more than £45m for the first development phase, which delivered over 300,000 sq ft of sustainable warehousing across four units.

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Completed in December 2022, the site has attracted two international occupiers — Vaillant which has signed for 131,000 sq ft, and Getinge, establishing a new global centre of excellence for chemistry at the scheme alongside its new UK headquarters.

Robert Richardson, development director at St Modwen, commented: “Our investments in this park now exceeds £100m and our decision to embark on the next phase of development underlines our confidence in Derby as a hub for logistics, as well as high-skilled tech and manufacturing.

“We expect a diversity of demand for the new units and a wide variety of employment opportunities to be generated.”

Paul Simpson, chief executive at Derby City Council, added: “This is more great news in what has been a bumper month of major investment announcements, following the decision to make Derby the home of Great British Railways.

“It was great to be on site to mark this occasion, and I look forward to seeing more investment in this city.”