Forward funding unlocks Nottingham warehouse scheme
Forward funding to the tune of £53.8 million has unlocked a 426,000ft2 warehouse scheme in Nottingham in the East Midlands.
Investor Oxenwood Real Estate has agreed to forward fund the 28-acre scheme to be developed by HBD. Detailed planning has just been submitted.
Known as ‘New Horizon’ the scheme will see the delivery of seven new industrial buildings up to 145,000ft2 all of which will be developed on a speculative basis.
HBD is aiming to start on site early next year, with completion expected in Q1 2023 following the earlier demolition of the Imperial Tobacco factory.
Justin Sheldon, Director and Head of Region at HBD, said: “This is a major scheme for Nottingham – it will not only bring a disused brownfield site back into use, but could create up to 1,000 new jobs.”