Chemicals giant sells Loughborough site to housebuilder

3M will move to the Charnwood Campus next year

A Leicester housebuilder has bought a major industrial site in Loughborough, according to reports.

Solus Homes has bought the Morley Street factory of chemicals giant 3M, according to the Leicester Mercury.

Earlier this year, 3M announced it was moving 170 staff to the Charnwood Campus in Loughborough – the sprawling former Astra Zeneca base.

3M says it will continue to with its operations at Derby Road in the town, where over 600 staff are based, but will move its R&D staff to the Charnwood Campus by the third quarter of 2018.

Solus Homes owner Mark Horsnall said his firm was planning a village-style development at the Morley Street site which would form a “gateway into Loughborough”.

Horsnall told the Leicester Mercury: “Subject to planning permission, the scheme proposes a high class, mixed-use development of residential apartments and commercial offices, offering a ‘live-work’ environment with close links to Loughborough train station and town centre.

“A sympathetic upgrading of the mill building will tie in with the village concept.

“This is one of the most exciting projects that Solus Homes is involved in, creating new homes and employment for the future and underpinning what a fantastic place Loughborough is to live and work.

“We expect to submit planning applications before the end of the year, and anticipate that work will commence in summer 2018.”

“The Morley Street facility has served us well for many years,” said Simon Holmes, business leader for 3M’s Health Care Markets division, “and we believe that this prominent landmark site is an attractive development opportunity for prospective buyers. 3M remains committed to Loughborough as the centre of its UK Health Care business and we are excited about moving to a new location with upgraded facilities in line with our current and future business needs.”

Click here to sign up to receive our new South West business news...
Close