Midlands Land Portfolio, has sold the freehold of development land off of Teal Close in Nottingham to AC Lloyd in conjunction with Henry Davidson Developments (HDD) to create a circa £30 million mixed use scheme.
The site, which is just five miles east of Nottingham city centre, on the Colwick Loop Road is set to comprise a long awaited development which will include a pub/restaurant, a care home, food store, drive-thru and children’s nursery.
In addition, there are plans for a 50,000sq ft 4,645 sq m) trade park with up to 12 units and 145,000 sq ft (13,470 sq m) of employment space.
Savills acted on behalf of the vendor and Victor Ktori, Head of Office at Savills Nottingham, comments: “Subsequently, two additional sites are now available to purchase from Total Petroleum at Colwick Industrial Estate. Both total circa five acres (two hectares) and provide strong development potential. The first is being marketed at a guide price of £1.4 million for the rare freehold interest and the other is available by way of assignment or subletting of the long leasehold interest.
Victor adds: “There continues to be significant appetite for development land in Nottingham, which has been proven by this latest purchase at Teal Close. The Total sites are incredibly rare and for this reason we expect there to be considerable interest in Colwick Industrial Estate as a result.”