Thursday, April 22, 2021
Real EstateUK

Planning granted for commercial property investment UK

property investment

Clowes Developments has got the green light for the development of the office block at the East Midlands Distribution Centre

Planning permission has been granted for a 10,000 sq ft speculative office block on the Leicestershire/Derbyshire border.

Clowes Developments has got the green light to start building the two-storey block at the East Midlands Distribution Centre, which is near East Midlands Airport, on the edge of Castle Donington.

It will go up on a 0.6 acre plot opposite the Redrow Homes head office with a design that mirrors the existing building.

Clowes director Paul Shanley said the new building will allow for either entire or split occupancy across the two floors at 5,000 sq ft each, and on either a leasehold or freehold basis.

Mr Shanley said that with many businesses re-evaluating their future office space needs, the new block could be used by a company looking to downsize as more staff work from home.

He said the unit could also appeal to investors who want to be part of an established business park built by Clowes, which includes a one million sq ft M&S distribution centre.

Mr Shanley said: With excellent links to the M1, the UK’s main arterial motorway, close proximity to East Midlands Airport for commercial passenger and logistical flights, and a stone’s throw away from the newly developed East Midlands Parkway railway station, EMDC is an excellent spot for businesses looking to relocate.

This combined with our experience of building quality developments across the UK makes this particular build ideal for occupiers looking for a prestigious office and investors looking for a small pension fund opportunity, he said.

Clowes Developments is one of the biggest privately-owned property investment UK and development organisations, and dates back to 1964 when it was launched by Charles W Clowes.

The Clowes family still runs the Derbyshire-based property group which recorded a turnover of £116.1 million and an operating profit of £39.3 million for the financial year 2018-19. That was up from £104.9 million and £32.4 million, respectively, a year earlier.

The group holds more than 3,000 acres of land and 15,000 residential plots in 130 development sites across the country, as well as more than 50 office and business parks and several larger mixed-use sites.

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