AerFin has signed a ten-year lease agreement with St. Modwen Logistics, one of the UK's leading logistics developers and managers, for a new 115,000 ft² facility at St. Modwen Park, Newport, which will serve 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 capacity to around 200 quick-turn shop visits per year and expands its UK-storage capacity by a third.
Additionally, the approximately 5,600 ft² of high-specification office space offers a modern, comfortable environment 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 ft² of logistics space.
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.”
