Morston Assets, the property developer owned by Sir Tom Farmer and Tom Harrison, will begin construction later this month on a £6 million, 60,000 sq ft depot at Kingswood Lakeside Business Park, Cannock.
The depot will be let to food distribution company 3663 First for Foodservice on a 20- year lease at £5.25 per sq ft. It plans to relocate 150 jobs from a site at Brownhills.
Work on the depot, which will be carried out by Ashford Construction, should be finished by October.
It will form part of the first phase of the 63-acre Kingswood Lakeside Business Park, where Morston Assets is speculatively constructing 68,000 sq ft of office accommodation which will be offered leasehold or freehold and will be available from early 2006.
This will be followed by a bespoke headquarters office building of 50,000sq ft.
Stuart Bizley, project director, Morston Assets, said: "We are delighted to begin work on this depot for 3663 which is a significant inward investment for Cannock.
"This letting is another example of how the M6 Toll has helped to make Cannock the premier location for distribution companies."
