A new development of 21 light industrial units in Mansfield Woodhouse has been given the green light by planners.
Family-owned Strawsons Property applied for consent to build approximately 40,000 sq ft of industrial space at their Old Mill Lane Estate in response to a lack of supply in the area.
It is expected that the units, which will form part of the existing industrial estate, will be ready for occupation in October this year and will provide high quality light industrial / warehouse units of between 1,100 and 8,000 sq ft.
Stuart Waite, associate director at Innes England, acts as joint agent on the existing scheme with Nigel Carnall at WA Barnes, believes this decision is a real boost for the area and indicative of an improving market.
He said: “I believe this is the first speculative development of small industrial and warehouse units in the area post economic downturn, which is a real indicator of how confidence is returning to the market in the East Midlands.
“The existing estate is now fully let, which has given the owners the assurance that there is appetite for this type of accommodation, and they have taken the decision to build speculatively to cater for pent up demand.
“There are very few smaller unit schemes in the area and developing new product presents viability challenges but we are confident in the location – this is great news for new start-ups and SMEs who so often struggle to find appropriate space.”
Adam Jones of Strawsons Property said: “We are delighted to be bringing forward a development on a vibrant and flourishing estate that’s now fully let, underlying that there is strong occupier demand for high quality, well-managed and competitively priced commercial premises.
“This will be one of the first speculative developments in the East Midlands for many years and it’s a ringing endorsement of an area that’s already an important part of our business.”
The new development will include 21 light industrial / warehouse units which will range in size from 1,100 sq ft to 8,000 sq ft and is expected to be completed by October 2015. WA Barnes in Mansfield will act as joint agent on the scheme.