Poperty developer St Modwen is on the hunt for more small warehouses after switching its focus away from retail space to focus on logistics.
St Modwen, which is best known for regenerating brownfield sites such as the New Covent Garden Market, sold off more than half its retail portfolio last year for a combined £177m as it retreated from the country’s ailing high streets.
It also ramped up its pipeline of new warehouse developments to 1.5m, from 1m one year ago, in a bid to take advantage of the shift to online shopping.
