St Francis Group, a leading UK-based property development and investment group and an expert in brownfield development and regeneration together with its Joint venture partners iSec have today announced details of a major new development on land next to Markham Vale off junction 29A of the M1 upon which it intends to develop five new warehouse developments.
The brownfield site has been unused since the Coalite works closed over a decade ago but now joint venture partners iSec and brownfield regeneration specialist St Francis Group will start ground works immediately to make plots ready for development. Occupiers could move into high quality industrial warehouse and manufacturing space from Q2 2021.
A second application seeking outline consent for an additional 500,000 sq ft in two units on adjoining land has also been submitted by the developers to North East Derbyshire District Council. At 1.32 million sq ft the scheme is destined to play a national role in the ever-expanding logistics market based on increasing demand from e-commerce channels.
The developers together with community leaders also want to make sure the business park provides a broad range of jobs across the manufacturing and technology sectors. As well as stimulating significant local job opportunities, the developers expect the scheme to stimulate fresh inward investment in the area boosting the local economy.
It is also planned to upgrade the surrounding road network with significant improvement works planned for Buttermilk Lane likely to start early next year.
Talking about the project, Gareth Williams, Development Director at St Francis Group said; “It is well documented that there is significant levels of pent up demand across the region and indeed the UK for high quality industrial units as businesses look to expand or relocate.
A considerable amount of time and effort has gone in to ensuring that this development will meet the very high standards expected by todays occupiers. The units will sit in a high-quality environment only minutes from the M1”. Following a formal launch early next year, marketing will target occupiers looking for bespoke buildings, built to meet specific requirements. iSec and St Francis Group have instructed Knight Frank and CBRE as sole joint letting agents.