LONDON-In a further sign of renewed confidence in the distribution sector, ProLogis has broken ground on a 500,000-sf speculative development on the site of the former Michelin Tyre factory at Campbell Road, Stoke on Trent. The first building will measure 250,000 sf but could be doubled in size to meet individual requirements.Practical completion is scheduled for early October and joint agents Lamont, GVA Grimley and North Rae Sanders are quoting a rental in the region of £4.50 ($8.15) per sf. Stoke is emerging as a leading distribution hub within the wider Midlands market. Companies that have established distribution facilities in Stoke include Sainsbury’s, Asda Wal-Mart, TK Maxx Screwfix and New Look.ProLogis development associate Matthew Byrom says: “We are very excited about the prospects of Stoke as an emerging logistics market. The location not only offers a significant discount to the Midlands market, but most importantly offers occupiers an extensive and mature labour pool from which to draw.”

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