Leicestershire business park on track to create hundreds of jobs

A business park is on track for expansion, potentially generating hundreds of jobs, following funding approval from Leicestershire County Council.

The first phase of the Airfield Business Park, near Market Harborough, saw twelve new premises built and occupied during the pandemic.

Now, Leicestershire County Council is looking to expand its offering with 16 new small units, two drive-throughs, and one large industrial unit for which a local business has already expressed an interest according to documents submitted to the council’s cabinet meeting last week.

The project is set to generate 20 jobs during construction and an additional 240 jobs once it’s fully built and occupied.

The council initially spent £2m to acquire the land in 2016 and now estimates an additional £16.5m will be needed to realise its vision for the business park.

The council’s cabinet gave the green light for the funding and the start of construction during their meeting last week.

Some 70% of the planned units have already been pre-let and they anticipate more businesses will sign up before construction finishes.

Although the council has approved the business plan and funding, they still need to obtain planning permission before starting any work.

Detailed plans are scheduled to be submitted to the council’s planning department by next month at the latest.

It hopes to receive permission in early 2025, with construction starting in January 2025.

If everything goes as planned, the project should be finished by February 2026, allowing the first businesses to move into their new spaces at that time.

Earlier in 2021, plans were submitted for the next phase of the business park, aiming to create 34 smaller units.

This planning application was anticipated to be approved in the near future. However, due to rising construction costs, it’s now considered an unfeasible project.