Major industrial site powers up as developer completes scheme

Property developer HBD has completed its Power Park scheme in Nottingham, bringing forward 426,000 sq ft of industrial and logistics space.

Construction began in May 2022 following a £53.8m forward-funding deal with Oxenwood Logistics Fund 1 SLP, a discretionary fund managed by Oxenwood Real Estate.

The project transformed the former home of Imperial Tobacco, with seven new buildings across a 28-acre site.

Each of the seven units meet BREEAM “Very Good” standards.

Justin Sheldon, director and head of region at HBD, said: “It’s fantastic to see the regeneration of the site now complete. Power Park provides sustainable Grade A space in a prime industrial location. Supply remains constrained throughout the region and our decision to develop Power Park demonstrates our confidence both in the scheme and established demand”

Jeremy Bishop, co-founder of Oxenwood, said: “Power Park is a high-quality development for Nottingham and for our fund. The variety of unit sizes and their specification are designed to address the regional demand in a market with an acute undersupply of 30,000 – 150,000 sq ft units.”

The agents for Power Park are M1 Agency and Knight Frank.