Four tenants revealed at £30m mixed-use scheme
Four nationwide operators have signed contracts to open new premises at a £30m mixed-use scheme in Nottingham.
Gedling Borough Council has granted planning permission for the creation of a 53,000 sq ft trade park and an industrial unit of 28,860 sq ft at Teal Park off the Colwick Loop Road in Netherfield.
Warwick-based property company AC Lloyd Commercial and Nottingham and Birmingham-based Henry Davidson Developments (HDD) have joined forces to bring the development to the area.
Deals have now been agreed with self-storage provider Storage Giant to open its 11th nationwide store on the prominent corner of Stoke Lane and Colwick Loop Road.
Tool Station, Screwfix and Howdens have all been secured to move into new units of 4,000 sq ft, 5,000 sq ft and 6,000 sq ft respectively.
Leeds-based Stainforth Construction has been awarded the building contract for the next phase which is due to start on-site imminently.
Work is continuing at the 20-acre site to construct a care home for people with residential and residential dementia care needs.
The 66-bedroom development by LNT Care Developments which will include a cinema, garden room, library, hairdressing salon, coffee shop and tea shop is expected to open in spring next year.
Mark Edwards, managing director of AC Lloyd Commercial, said work on the first bank of trade units and the large self-storage unit is due to be completed by summer 2021.
He said: “It is great news that despite Covid-19 we have signed contracts with four nationwide operators to take up new units at Teal Park.
“This acts as a great springboard to attract more businesses to the scheme and shows the faith in the high standard of the design and build that we are creating in Netherfield.
“Construction is carrying on as permitted by Government guidelines and we are continuing to attract interest from a wide range of local, regional and national companies for the remaining units.
“The enabling works involved in the infrastructure of a project of this size have been completed which means we are now in a position for Stainforth Construction to move on site to start building the trade park.”
Richard Croft, director at HDD, said “We are delighted to have attracted household names of such calibre to Teal Park despite all the difficulties that Covid-19 has presented which is a fantastic endorsement of the location and our development proposals.
“The opening of these branches will lead to new jobs being created which, in turn, will boost the local economy.
“Another positive is that we are also attracting high quality interest in the next phase of the development which is building the remaining employment units.”