AerFin signs 10 year lease deal with St Modwen Logistics

AerFin has signed a 10-year lease agreement with St. Modwen Logistics 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,"" said AerFin. “The agreement doubles AerFin’s engine MRO capacity to around 200 quick-turn shop visits per year and expands its UK storage capacity by a third."" 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. Simon Goodson, chief executive 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: “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.”