Specialist investor snaps up second phase of £30m industrial park
Northwood Urban Logistics has acquired the second phase of a £30 million mixed-use development in Nottingham.
The investor, which specialises in logistics sites, has purchased six trade units at Teal Park in Netherfield from joint developers AC Lloyd Commercial and Henry Davidson Developments.
The company acquired the first phase of the scheme – now fully occupied by companies including Toolstation, Screwfix and Howdens – last November.
Its latest acquisitions range in size from 2,357 sq ft to 4,359 sq ft and collectively amount to 21,241 sq ft of space.
The third and final phase of the development will consist of six larger employment units sized between 9,590 sq ft and 31,470 sq ft.
It is due to be completed during early Q4 this year.
Mark Edwards, managing director at AC Lloyd Commercial, said: “Teal Park has been a real success story for AC Lloyd Commercial and this latest announcement underlines our commitment to delivering a premium mixed-use site for businesses and the local community.
“Work is now underway on the third and final phase of creating Teal Park which we hope to complete this autumn.”
Iain Taylor, director at Northwood Urban Logistics, said: “Enquiries remain strong at Teal Park since the market for trade units of this size remains on the up particularly when you add in Nottingham’s excellent transport links with the rest of the UK.”