July 29th, 2020
East Midlands logistics scheme approved for extra 574,000 sq ft
An additional 574,000 sq ft of warehouse and logistics space at a high profile new development in north Derbyshire has been given the go-ahead.
Joint venture partners St Francis Group and iSec have secured planning consent for a second phase at Markham Vale's Horizon29, just off junction 29a of the M1 between Sheffield and Nottingham, for three more industrial units ranging in size from 113,000 sq ft to 250,000 sq ft.
The additional planning consent will bring the total space at the landmark scheme to an impressive 1.4m sq ft, with the potential to create more than 2,000 jobs for the region.
Work at Horizon29 is already underway with extensive ground works completed and infrastructure changes and highways and service upgrades about to commence.
The first phase of the development, for 824,000 sq ft across five units, ranging from 73,000 sq. ft to 310,000 sq. ft, was granted planning consent earlier in the year and plots are now available for development.
Gareth Williams, Development Director of St Francis Group, an expert in brownfield development and regeneration, said: "We and our partners, iSec, are delighted to have worked closely with the local planning authority in order to deliver this major consent for the second phase of our strategic logistics project, Horizon29 at Markham Vale.
“The East Midlands has seen a good take up of large, bespoke industrial premises over the last 12 months. We expect keen interest from a range of occupiers wanting first class accommodation, prime location and labour supply.”
Last week it was announced that the South Yorkshire Pension Fund and the SCR Jessica Fund have provided a £15.25 million senior and mezzanine debt facility to support the development of vital infrastructure which will be the catalyst for the delivery of this regionally strategic logistics and manufacturing site. This is the first joint loan provided by the Funds.Nigel Lax, Development Director of iSec said: “This scheme is one of the most prestigious industrial developments in the East Midlands and will not only deliver much needed, state-of-the-art space, set within highly landscaped grounds, but thousands of jobs for the region.
“Securing phase two planning at Horizon29 means that the project can be pushed forward at pace to deliver this landmark scheme.”
Rebecca Schofield of joint letting agents, Knight Frank, added: "The site offers the opportunity for bespoke or build to specification accommodation for occupiers with leasehold and freehold requirements for the eight premium industrial/warehouse units.
“We welcome the opportunity to discuss and understand occupiers specific requirements so that detailed proposals can be tabled.”
St Francis Group and iSec is working closely with North East Derbyshire District Council, Bolsover District Council, Derbyshire County Council and the D2N2 LEP that has provided grant assistance to the project.
Sajeeda Rose, chief executive at D2N2, which invested £5.79m into the project via the Local Growth Fund, added: "As we look towards the economic recovery from Coronavirus, we at D2N2 are delighted to see the Horizon29 site continue to expand into a scheme ready to deliver new jobs to the North-Derbyshire and wider economy."
Knight Frank Sheffield and CBRE Leeds are joint agents on Horizon29.
For further information contact Rebecca Schofield at Knight Frank on 0114 272 9750 or Mike Baugh at CBRE on 0113 394 8800.