45-acre Nottingham site bought
A 45-acre site off the M1 in Eastwood, Nottingham, has been bought by Coleshill-based IM Properties.
The site, on the A610 and close to junction 26 on the M1, is said to be one of few development schemes close to the M1 that can take up to one million sq ft of distribution space.
Kevin Ashfield, development manager at IM Properties, said the Eastwood site had been purchased due to "its prime location and the fact that the site has an existing outline planning permission" for various uses.
He said: "There is growing demand for larger design and build requirements due to the lack of available space capable of offering larger buildings.
"This has been proven by Marks & Spencer recently taking 900,000 sq ft at East Midlands Distribution Centre (EMDC) in Castle Donington and the Co-operative Group committing to a new 480,000 sq ft warehouse in Derbyshire, just off Junction 28 of the M1.
"We are intending to implement works to provide the site infrastructure to enable us to deliver a bespoke building within 12 months. IM Properties has a reputation for deliverability and we fully intend to build on this with our acquisition of the site in Eastwood."
IM Properties said it is looking to expand its portfolio of distribution sites in the coming months. The property group has £25m to invest in distribution sites across the UK.
Agents FHP acted for the vendor BGL Landfill while IM Properties represented itself.
