Land deal to bring forward 32 business units

A land deal in the Rushcliffe area of Nottinghamshire is set to bring forward the construction of 32 small-to-medium-sized business units.

Acting on behalf of Rushcliffe Borough Council, heb have confirmed the sale of 4.5 acres of development land on the Moorbridge Road Industrial Estate in Bingham.

The site has been sold to a consortium comprising property Nottingham-based developers Hofton & Son Ltd, and Central Source (suppliers of industrial products) who are already based on the estate.

“It’s a great site in a great location, and accordingly it was no surprise that we were able to generate strong interest in this opportunity,” said Robert Maxey at heb.

“Notwithstanding this our instructions from Rushcliffe were very clear – the sale had to both generate a competitive return, whilst also ensuring the provision of employment space for local jobs going forward.

“We are delighted to be able to confirm we feel the sale has achieved this. Not only will Central Source be able to expand their well-established operation on the estate, but Hofton & Son have also committed to developing up to 32 small to medium size business units. We hope these will go a long way to retaining employment opportunities locally, as well as drawing new businesses to this great location.”

As part of the transaction Hofton & Son will construct an extension to the public estate road to link Moorbridge Road directly to the Butt Field Sports Club pitches and pavilion, providing relief to the current access which is via a narrow unmade track.

Mark Shouler, managing director at Hofton & Sons, said: “We are already well-progressed with our enabling works, and can’t wait to get started on site. Our confidence in this great location means that we are committed to building speculatively. We intend to build an appealing mixture of small business units from 1,000 sq ft upwards, and already have strong interest in much of the first phase”

“Buying this land is the first huge step in an exciting journey for the business,” added Ken Miller, managing director at Central Source. “These building plans are so much more than a physical expansion of our current premises; it is an expansion of the opportunities we create at Central Source.

“Our new build will enable us to continue to be a positive contribution to the already thriving group of successful businesses in Bingham. The expansion of our warehouse department will enable us to create an improved operations system, develop work experience and job opportunities. The decision to remain close to our current premises allows us to keep the entire business in close quarters during the expansion, and create minimal disturbance to daily work life as possible.”

Wendy Miller, financial at Central Source added: “We are excited to pursue a new avenue in our current 27 year long adventure as a family business. Being able to both grow and improve our current warehousing department is an extremely positive move for this business. This project is a great milestone to recognise many years of hard work from a committed team, who without it would not be possible to take such an exciting step forward in evolving the business. I eagerly look forward to the new prospects the new build brings.”