Westside Park To Create 400 Jobs

Planning permission has been secured to transform an eight-acre site on Raynesway that will provide employment space for hundreds of people.

Pride Park property consultancy Salloway acted for local firm Ivygrove Developments to help secure permission to transform the land.

Christened Westside Park, it will now be developed to include a number of workshop and warehouse units totalling around 100,000 sq ft.

Ivygrove secured the land from investment firm Telereal Trillium in a seven-figure deal brokered by Stephen Salloway.

The developer is planning to spend around £5 million transforming the site that, once completed, is expected to create around 400 jobs.

One of the units has already been pre-sold to Derby-based automotive engineering firm SGS and negotiations are under way on other units.

Mr Salloway believes the strong early interest is a result of the sites location.

He said: The proximity of trunk roads the A52, A50 and M1 is a major asset, as is the skilled local labour force.

We have helped Ivygrove to plan a scheme which meets current demand for mid-range units, although the developers flexible approach means that just about any requirement can be satisfied.

The process to get Westside Park off the ground has not been straight forward.

Mr Salloway said: Land purchase negotiations were detailed and complex but a conditional contract was eventually entered into allowing the planning application process to begin.

It was decided to make a pre-application in an effort to reduce the overall timescales.

Planning permission was eventually obtained and Ivygroves bankers, aware of the firms track record, were happy to back the project.

The transaction was completed some 18 months after an offer for the site was originally accepted.

We were aware of SGSs requirement to relocate from West Meadows and after working up the detailed design of a bespoke unit we provisionally agreed terms.

Once planning permission was secured, we were able to complete the contracts.

The commitment by SGS to pre-buy a unit at Westside Park demonstrates real confidence in the Derby economy, said Mr Salloway.

Mr Salloway said: The evidence clearly demonstrates that there is demand in the manufacturing sector for new space in the right location and at the right price and Ivygrove is seizing the opportunity.

Stephen Salloway
Contact Details:
Tel 01332 298000

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