Project Promoters:

Bolsover Land Ltd

Scale:

£175m GDV

Sector:

Commercial

Location:

Bolsover, Derbyshire

Investment Type:

JV development partners; forward funding for identified occupiers

Planning Status:

Outline planning consent for Phase 1, Phase 2 subject to future planning

tudorcross.co.uk

Tudor CrossBolsover, Derbyshire

OpportunityThe promoter seeks forward funding for identified occupiers for the first phase of this prime Industrial and Logistics Park where plots will be available from late 2018. Tudor Cross is ideally situated on the busy M1 motorway corridor.

Opportunities also exist for potential investors and investment partners in the promotion and development of the second phase of the employment park which is intended to attract innovators in manufacturing and distribution from a range of sectors. Interested parties may include higher education establishments seeking facilities linked to specific industrial sectors.

Overview

Background

Junction 29a of the M1 motorway and the Markham Vale Enterprise Zone is a sought after location for businesses, particularly in the warehousing, distribution and logistics sector. The Tudor Cross project will deliver a 47 hectare commercial business park up to 146,000 sqm of floor space for high-quality growth businesses in targeted sectors.

Project Description

Demand for well-located employment land in the region far outweighs the supply as proven by the adjacent development at Markham Vale which has very little remaining land. Tudor Cross, therefore, represents significant opportunities for industrial and business growth for the district and the surrounding areas.

A new master plan has recently been developed which accommodates the impacts of High Speed 2 (HS2). The first phase of remediation within Bolsover District Council on the former Coalite Works site was completed in 2017, and infrastructure works are planned to commence later in 2018.

Phase 1 of the development which occupies 27 hectares of the site within Bolsover District Council, will deliver 74,000 sqm of

commercial plots and will be available from late 2018.

On the remaining 20 hectares of land within North East Derbyshire District Council, Phase 2 will deliver 72,000 sqm of employment land which will be available from 2019.

Project Promoter and Partnerships

The promoter is a successful joint venture between London based private equity investor Marcol and St Francis Group, a Midlands based contractor / developer with a proven track record in the remediation and regeneration of brownfield land. The two parties are currently working together on a former Rolls Royce site in Bristol (Horizon 38) which has been fully remediated and enabled to create a 65 acre mixed use business park that is due to be completed in 2019.

Derbyshire