Property developer Priority Space has exchanged contracts to acquire a prime 1.6 acre site at Markham Vale in Derbyshire.
The developer, which has exchanged contracts on the site in a joint venture with Hunt Group, will now seek planning permission for some 25,000 sq. ft. of high specification warehouse/industrial accommodation set over 13 units ranging from 1,200 – 3,050 sq ft, which will be available to buy.
This will be the latest development at the popular Markham Vale, a 200-acre prime business and distribution park with Enterprise Zone status, located off junction 29a of the M1 motorway, and will provide much needed business space for SMEs in the region. The site has recently attracted occupiers such as Great Bear, Andrew Page, Inspirepac, Ready Egg, Meter Provida and Gould Alloys amongst others.
Innes England’s Derby office and Fernie Greaves in Sheffield have been jointly appointed to market the scheme which, subject to planning, is expected to start on site in November this year.
Associate director at Innes England, Stuart Waite, commented: “We are delighted to be working alongside Fernie Greaves on this Priority Space scheme. Markham Vale is widely regarded as one of the UK’s premier logistics locations and a flagship scheme for the region which has attracted considerable investment since its inception. We are convinced these units will be received well by the market.”
Lee Buchanan, Director at Priority Space, said “After the success of Kiln Park, Priority Space are looking forward to delivering their second commercial scheme. We believe the location at Markham Vale to be key in securing fully occupancy of the site. We hope to emulate Kiln Park and secure sales on the entire scheme before completion of the development."
Shaun Hunt, Chief Executive at Hunt Group Ltd added, "Following a successful JV project between H.G. Holdings and Priority Space near Leeds we are pleased to be embarking upon this new development project using the same well proven team. The Markham Vale regeneration site is perfectly placed on this busy M1 corridor with many large operators having already established their businesses here. Our flexible, modern and most aesthetically pleasing units are likely to appeal to the more discerning business owner occupiers and investors."
Britcon (UK) Ltd will be appointed as Main Contractor.