Upto 1,000 new jobs could be created in Ashfield following the purchase of a 45-acre site by property developer Sladen Estates.
Sladen, based in South Normanton, has incorporated Prologis Park into its development portfolio, and plans to develop and rebrand the site as Summit Park.
The business park extends to 45 acres and is fully serviced with planning permission for B1, B2 and B8 – for business, general industrial use and storage and distribution. The site is close to junction 28 of the M1, via the A38.
Sladen will build a range of units totalling 900,000 square feet at the business park. Once completed, the park will have an end value of £56 million.
The site which is located adjacent to the Mansfield Ashfield Relief Road (MARR) is well located to access the local labour force in the Ashfield and Mansfield area.
Chief executive Nick Sladen said: “This is one of the most important deals that Sladen Estate has been involved in during recent years. Our local knowledge and extensive development expertise will ensure we deliver this scheme in the shortest possible time. We have had incredible support from the local authority which has been keen to encourage development.
“Our master plan shows a variety of units including an Advanced Manufacturing multi-unit scheme offering 100,000 square feet in units from 2,500 square feet to 12,500 square feet.
The largest single building Sladen can offer at the site is 600,000 square feet. The current masterplan also shows units of 80,000 square feet, 20,000 square feet to 30,000 square feet, 40,000 to 50,000 square feet, 320,000 square feet and 200,000 square feet, said Nick.
“These will be high tech and low energy sustainable buildings built to BREEAM Very Good standard.”
“The scheme will be high quality as all our schemes are, with high levels of landscaping, security and design,” he added.
Leader of Ashfield District Council, councillor Chris Baron said: “It is fantastic to see that there is a growing impetus to kick start development on what we have long known as Prologis Park - now Summit Park. This is a real opportunity to generate inward investment with resultant benefits to the local economy and our communities.
Summit Park is a key employment site in Ashfield, with capacity to host over 1,000 jobs. The council will be happy to offer whatever help it can, and is already proactively working closely with Sladen Estates to encourage high quality employers to locate their businesses on the site.”
Units will be available as leasehold or freehold and buildings can be available in a six to nine month period on a design and build basis.
Property agent North Rae Sanders acted for Sladen in the acquisition. Letting agents are North Rae Sanders, CPP and Lambert Smith Hampton. Mike Taplin at Freeth Cartwright in Derby did the legal work for Sladen.
The acquisition of Prologis follows on from Sladen Estates carrying out a £21 million project for nearby Clipper Logistics at its Ollerton depot in June, creating 200 new jobs.
Sladen acquired an existing building at the Clipper facility and constructed a new 150,000 sq ft extension. The project includes new loading yards, car parking and access roads - increasing the building footprint to 357,000 sq ft.