Leading independent tyre specialist, Selecta Tyre Ltd have agreed to purchase a new 5,000 sq ft facility within Waterside Park, Cedar House Investments' multi-million pound regeneration scheme on the site of the former Nestle factory in Ashbourne, Derbyshire.
The company, which first moved to the scheme in 2008, has taken additional space adjacent to its existing tyre facility in order to accommodate the launch of a new MOT test centre and servicing facility.
Work on the new facility has already started, with completion expected in Spring 2011.
The 36 acre scheme, marketed by Salloway Property Consultants, comprises residential, roadside, business and retail uses, including a mix of 60 private and affordable homes, 50,000 sq ft of commercial space and 60,000 sq ft of retail warehousing.
Managing Director of Salloway, Stephen Salloway commented:
"Selectaâ€™s success at Waterside demonstrates how they have taken full advantage of the prominence of the site. The mix of uses has clearly created a thriving business community for Ashbourne. There are now only a few opportunities remaining for businesses to locate onto Waterside Park."
The scheme has created a sustainable and balanced solution, which is key to the town's growth and has created much needed job opportunities for the local work force following the closure of the Nestle factory.
The retail park element of the scheme is occupied by a number of quality tenants, including a 20,000 sq ft flagship Homebase store with an 8,000 sq ft garden centre, a 5,400 sq ft Halfords outlet, an M&S Simply Food store extending to 11,000 ft² and the recently occupied 4,000 sq ft Majestic Wines.
A 53 bed Travelodge Hotel on the four acre roadside area adjacent to the retail park opened in December 2008 and Marstons opened the 'Stepping Stones' pub/restaurant last year.
Chris Oakden, commercial director of Cedar House Investments, said:
"We are delighted that Selecta Tyre have been so successful within Waterside Park and have decided to expand their business within the scheme."
"It is great news for Ashbourne and, in many ways, it demonstrates that the town is bucking current retail trends."
Simon Pashley, owner of Selecta Tyre, added:
"Since opening here two years ago, trading has been fantastic and we've been thrilled with the reaction from local people, so when we decided to expand the business with a new MOT and servicing facility, we were positive that Waterside Park was the right location for us."
With a portfolio totalling more than £75 million, Cedar House Investments is one of the Midlands' most progressive developers, with a series of high profile schemes across the East and West Midlands.