December 2011 news archive

IM Properties buys 45 acre development site in Nottingham

IM Properties has completed a major acquisition of a 45 acre development site off the M1 in Eastwood, Nottingham.

The site is located on the A610, providing quick access to Junction 26 of the M1.

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 B1c, B2 and B8 uses.

“This is an important employment site for Nottingham and one of the few development schemes close to the M1 that can take up to one million sq ft of distribution space. 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”.

The purchase of this 45 acre site at Eastwood is the first of a number of acquisitions IM Properties is looking to make to expand its portfolio of distribution sites. The property group has £25 million to invest in distribution sites across the UK.  

Agents FHP acted for the vendor BGL Landfill Ltd, whilst IM Properties represented themselves.