First phase of £30m trade park fully-let
The first phase of the Teal Trade Park on the outskirts of Nottingham is now full-let, say agents.
Acting on behalf of Northwood Urban Logistics, FHP Property Consultancy and Phillips Sutton have sealed deals to companies including Screwfix, Howdens, Tool Station, Trent Valley Windows, Trent Vehicle Charging and PaintWell.
The final two units on the scheme are now under offer with details to be revealed shortly.
Teal Park, off the Colwick Loop Road in Netherfield, has been jointly developed by Warwickshire-based AC Lloyd Commercial (ACL) and Nottingham-based Henry Davidson Developments (HDD).
Northwood Urban Logistics has bought the entire industrial element of the scheme which will be delivered by ACL and HDD in three phases.
The second phase of the scheme is set to be completed in April 2022 and three of the units have already been pre-let.
The Teal Park scheme comprises two terraces of trade counter units which have prominence to the Colwick Loop Road and sits adjacent to the Persimmon Housing development which is due to deliver some 800 houses surrounding the scheme, alongside a new school, care home and Aldi Supermarket.
Further units are set to be delivered in the Summer of 2022 where FHP and Phillips Sutton will be offering units from 9,000 sq ft to 35,000 sq ft for further trade, warehouse and industrial occupiers.
Iain Taylor, director at Northwood Investors, said: “We are very excited to have made our recent acquisition of Teal Park at a time when there is chronic lack of supply in the area. Teal Park is able to cater to a wide range of occupiers who will be able to adapt the units for a variety of uses.”
Mark Tomlinson, director at FHP, said: “We are delighted to have put together such a strong trade line up for this scheme within weeks of practical completion of the first phase and we look forward to working with further Tenants on the scheme in the early part of next year. With the amount of development going on in this locality and the new housing being delivered in the immediate location it isn’t surprising that we have brought forward such good levels of interest in the scheme to date.”
Brodie Faint of Phillips Sutton said: “We are very pleased to see the quality of occupier that the scheme has attracted, especially as we have been involved with this site from the initial acquisition. It is testament to the strength of the area, with new housing schemes, road infrastructure and now Teal Park contributing.
With limited supply in Nottingham and the surrounding areas, we look forward to securing further complementary occupiers for the second phase which will be completed in April 2022.”
