Global aviation service provider AerFin has announced that it has signed a 10-year lease agreement with St. Modwen Logistics, one of the UK’s leading logistics developers and managers, for a new 115,000 sq ft facility at St. Modwen Park Newport, which will act as the company’s global headquarters from the end of 2024.
The facility offers custom-built space for enhanced aviation aftermarket services activities, including engine disassembly and maintenance, repair and overhaul operations, as well as traditional warehousing and logistics. The agreement doubles AerFin’s engine MRO (maintenance, repair, overhaul) capacity to around 200 quick-turn shop visits per year and expands its UK storage capacity by a third.
Additionally, the c.5,600 sq ft of high-specification office space offers a modern, comfortable environment in which to drive the continued growth of AerFin’s global commercial operations with a superior employee experience that also delivers net zero carbon operations via reduced energy usage.
Earlier this year, Blackstone announced that from July 2024, St. Modwen Logistics’ portfolio of assets will become part of Indurent, a new pure play UK logistics champion. The business will have more than 200 assets totalling 26 million sq ft of logistics space.
Simon Bayliss, Chief Operating Officer at AerFin, commented: “We are pleased to commit to our new, global headquarters, marking a significant milestone in AerFin’s growth story. This move will significantly enhance our operational capacity and position us well for continued expansion. We are collaborating with our selected contractors to ensure the space is fully functional by year-end to allow us to take advantage of the new facility’s unparalleled, advanced features”.
Peter Davies, Senior Development Director at St Modwen Logistics, added: “The growth story of Aerfin from local consultancy to global player in the aviation world is impressive, and we are proud they have chosen St. Modwen Park Newport to base their new global headquarters. AerFin’s arrival is yet another feather in the cap for the park and its growing reputation as an attractive home for big business, with Grade A office space as standard, plus space for both production and distribution operations under one roof.”
Built in line with St. Modwen Logistics’ ‘Swan Standard’ – a holistic set of sustainable development guidelines – AerFin’s new headquarters has been rated as ‘Excellent’ by BREEAM, the certification body for sustainable construction, and comes complete with an EPC A+ rating to demonstrate the building’s energy efficiency.
St. Modwen Logistics Park, Newport
As well as offering 15% roof lights, reducing the need for artificial lighting throughout the day and creating a naturally bright environment for employees, the building also comes complete with 985 sq m of rooftop solar PV as standard, which could lead to savings of up to £59,000 a year.
St. Modwen Park Newport is encouraging a diverse range of fast-growing manufacturing and distribution businesses to the region, providing flexible opportunities to the occupier market within the industrial and logistics sectors and beyond.
The 100-acre business park is strategically located at the gateway to South Wales, around 18 miles from Cardiff and 25 miles from Bristol. Junction 23a of the M4 motorway is within 4 miles via the A4810/Queen’s Way. The estate and surrounding area benefits from the de-tolling of the Severn Bridge, further enhancing its location and access to the South West and Wales.
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