The final unit has been sold at Wymeswold Business Quarter, where 95 local jobs will be created when construction is completed on the site.
The unit has been sold to Fleet Auction Group.
Adjoining the existing Wymeswold Industrial Estate, Wymeswold Business Quarter, Prestwold is a new industrial development which will be completed in early 2023 to provide 20 purpose-built new build industrial units, ranging in size from 1,900 sq ft to 12,000 sq ft.
With all units now sold or let, over 95 local jobs have been created. This will benefit the local economy and help to reduce the commuting times of those who work at the business park – as most of the business owners and their employees live within a 5 mile radius. The developer, The Prince Group, has included a number of incentives to further reduce the environmental impact of the development, including a green travel plan, ride to work scheme and free bus passes.
The development has been built on land that is part of The Prestwold Estate, which is managed by Loughborough-based specialist land development and property consultancy Mather Jamie.
Acting as their strategic land adviser, Mather Jamie initiated the idea to create Wymeswold Business Quarter and acted as project manager to assist The Prestwold Estate and The Prince Group to obtain planning permission, commission construction and then promote the units for sale or lease.
The site forms part of the old Officer’s Mess from the WW2 Wymeswold Airfield. The developers have plans to name some of the buildings after some important figures that were stationed at the airfield during the War.
Geoff Prince, Managing Director from the Prince Group, said: “We have a long standing relationship with Mather Jamie and always value their advice and guidance which on this occasion has helped The Prince Group deliver and create something that will benefit businesses and create local employment.”
A second phase development at Wymeswold Business Quarter is now proposed which will create 21 units and 80-100 more local employment opportunities. Mather Jamie, along with consultants Pegasus Group, Golby & Luck and Gordon White Hood, are currently project managing the planning application for this second phase. If approved, construction on the next wave of units will begin in Q2 2023 and will be available to let/buy early in Q1 2024.
Hamish Byers, associate director, Mather Jamie, said: “The speed in which all units have been occupied shows the success of the development and that there is definitely a demand for industrial units within a rural community and when carefully planned these facilities can positively impact local communities and the environment.
“My clients, the Prestwold Estate, are committed to developing opportunities which benefit the local community and as long standing owners and employers in the local area, it was very important for them to deliver a scheme of high quality and maximising local opportunities.”
As part of the first and second phases of the development, the Estate are trying to minimise the environmental impact and provide additional benefits. Throughout 2022 the Estate has planted over 450 trees and have plans to develop and enhance the natural environment further over the coming years.
