Property developer HBD and Oxenwood Real Estate have agreed a £53.8m forward funding deal to progress the development of the 28-acre Power Park industrial scheme in Nottingham.
Power Park, formerly known as New Horizon, will see the delivery of seven buildings of between 32,500 sq ft and 145,700 sq ft, all developed on a speculative basis, delivering a total of 426,000 sq ft of industrial and logistics space.
The development is expected to complete in spring 2023.
Justin Sheldon, director and head of region at HBD, said: “It is a sustainable development that will attract new business and investment into the city and could create as many as 1,000 new jobs at Thane Road.”
Jeremy Bishop, co-founder of Oxenwood, added: “The unit sizes and specification are designed to address the strong supply-demand dynamics in the Nottingham area.”
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