A plot of land has been secured for a £4 million industrial development in Mansfield.
Commercial property developer Priority Space, working with HG Sites, has purchased 2.7 acres off the A6191 Southwell Road West.
The joint venture will invest in 36,250 sq ft of prime industrial space, which will be made up of 21 speculative units ranging from 1,250 sq ft to 2,250 sq ft.
Planning approval for the new business park has been gained from Mansfield District Council and Britcon has been appointed to build the development, with work due to commence February 2021 and complete in the autumn.
Lee Buchanan, director at Priority Space, said: “We are very pleased to now have everything in place to plan delivery of this well-placed industrial development in Mansfield.
“Our aim is to provide well-designed, high-spec units which are ideal for businesses looking to purchase their own workspaces, so they can invest in their companies and grow. We know there is demand for units of this size in the area and look forward to the development supporting Mansfield’s economic growth.”
Commercial Property Partners (CPP) have been appointed to market the space and it is expected the units will be ready to occupy by spring 2022.
Stuart Waite, Director at CPP, said: “Delivery of this scheme represents a significant investment into the town and further demonstrates strength in the industrial market across the East Midlands, across all size ranges.
“This is an excellent site for a small business unit development, just a stone’s throw from Mansfield town centre with excellent major road links, and plenty of amenity nearby.
“The team at CPP are looking forward to working on another project with Priority Space, having previously worked successfully together on schemes in Derbyshire and South Yorkshire.”