Our commercial agency team have recently assisted their client Clowes Developments in the off-market acquisition of a major new business park in Nottinghamshire with permission for around 500,000 sq ft of warehouse and industrial space.
Harrier Park in Hucknall, Nottingham, has planning permission to construct six new buildings for industrial and logistics use. Clowes has purchased the site off Rolls-Royce via their development manager Muse.
We have been retained, jointly alongside fellow agents FHP, at the 31-acre site which dates back to World War II when it was used as an aerodrome. In the 1950s, it was the location of the world’s first vertical aircraft take-off, leading to the development of the famous Harrier ‘Jump Jet’ which led to the name Harrier Park.
Harrier Park is within a ten-minute drive of J26 and J27 of the M1, and Nottingham, Derby, East Midlands Airport and East Midlands Parkway Train Station are only a 30-minute drive from the business park.
One of our partners and Head of Industrial and Logistics, Rob Champion, said: “This is a key site in Nottingham which would boost the economy through the jobs that would be created at the business park. The site has an interesting history, and the development will see the legacy of industrial innovation preserved through the delivery of best-in-class buildings for today's forward-thinking businesses.
“We are expecting very strong interest from a range of sectors since the market remains strong and we will be using our market knowledge and key connections to identify potential occupiers.”
Miles Youdan, one of our partners in our investment team, added: “This will help to create jobs for local people which will have a positive knock-on effect for the local economy. We are confident Harrier Park will be a real success story for the area, particularly with the variety of unit sizes, access to skills and its great transport links.”
Sarah Day, Senior Land Manager at Clowes Developments, added: “The site has the potential to develop just over 500,000 sq ft of industrial use facilities in a prime location with great connections across the East Midlands. We look forward to working with the local planning authority, Ashfield District Council, to bring forward a business park which will enhance the economy and provide employment opportunities locally.”
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