Modo Bloc Expands Into Commercial Property Development
Fast-growing North East developer Modo Bloc has secured planning permission to develop an industrial site on Teesside.
The Newcastle-based developer has received permission from Stockton Borough Council to build 22 light industrial units on a brownfield site on Cowpen Lane Industrial Estate, Billingham.
Construction of the 30,000 sf ft of new industrial space is set to begin in the summer.
This £4 million project represents the first of several planned projects in the commercial property development arena.
George Jenkins, MD of Modo Bloc, explained: “Most of our work to date has been residential but we always planned to move into commercial property development as soon as the right opportunities arose. This Cowpen Lane project is a perfect location where demand for modern, light industrial units is high.”
Modo Bloc is also seeking planning for a £2m industrial and retail mixed use site in South Shields. Elsewhere, the company recently acquired a warehouse in Coxlodge, Newcastle. The company is already looking at other sites around the region including an opportunity in Morpeth.
The ambitious developer recently established Modo Bloc Construction to help accelerate some of its new residential and commercial developments.
Construction is already well underway on three, five-bedroom luxury homes at Stannington, near Morpeth, Northumberland. Dave Hansell, the site manager for Modo Bloc Construction, reveals that already a buyer has been found to buy one ‘off plan’ for £595,000.
Ollie Stapleton a co-director at Modo Bloc, acting as PM on the Stannington site, while spearheading the commercial projects, said: “With the growing volume of work, we needed to better control costs and quality. We are gradually putting the management team in place, and the new construction business will allow us to push on and manage the projects we have.
“We have lots of exciting schemes on the go or set to start in the coming months. Our construction business will allow us to manage those up to around £2m in build value. For the larger projects we will continue to seek to work with experienced, medium-sized construction businesses around the region.”
Over the last two years, Modo Bloc has pipelined over £60m worth of developments. George Jenkins explained that he and his team have moved on from student accommodation and small refurbishments to larger residential conversions along with building new homes and land development. Modo Bloc has several development sites in Ouseburn Valley, overlooking the river Tyne.
George added: “Our future projects are getting larger and more substantial. Modo Bloc has ambitious growth plans to build more homes and develop more land to increase our pipeline even further. We’re always looking at interesting investment and development options in the North East and beyond.”