Markham Vale welcomes £36m industrial forward funding deal
M&G Real Estate is to fund the construction of a 480,000 sq ft distribution warehouse at Markham Vale in, Chesterfield. The total commitment is £36 million. The site extends to around 27.5 acres adjacent to Markham Lane and is the largest plot created by the County Council at Markham Vale to date. The development is pre-let to Great Bear Distribution Ltd, a leading third party logistics company. On practical completion of the development Great Bear Distribution will take a 15 year lease creating around 400 new jobs in the process.
Andrew Windle, Associate Director, Logistics and Industrial at M&G Real Estate, comments: “There is very strong investor demand for new, prime distribution assets in the Midlands due to the very tight supply and continued demand for new space. This will be a prime development in a core and very prominent location off the M1.”
Ben Ward from Henry Boot Developments Ltd, adds: “We look forward to welcoming Great Bear Distribution Ltd to Markham Vale. This is one of several major deals at the site over recent months and represents significant investment into the area.
