The landmark 48-acre site had been home to Imperial Tobacco's UK production and distribution facility since the late 1960's, before production moved overseas in 2016. HBD purchased the site last summer in a multimillion pound deal.
The past twelve months have seen HBD undertake extensive works on site to improve the retained distribution warehouse, still home to Imperial Tobacco. Completed works include new car parking areas and a new vehicle entrance, along with heating plant and utilities to separate it from the Horizon manufacturing building, which will be demolished to make way for the new scheme.
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The new development, named 'New Horizon', will stretch over the southern half of the site, covering 28 acres and providing up to 500,000 sq ft of new industrial buildings for a variety of uses. The site could also be suitable for other uses, with the planning application also including car dealership use to complement the recently opened Aston Martin facility next door.
Justin Sheldon, Regional Manager at Henry Boot Developments, responsible for the scheme, said: "The package of works to the distribution unit is shortly to be completed, which will allow our attention to turn to the remainder of the site. We have already undertaken some selective demolition of the Horizon building, and the remainder will be completed throughout the late summer and autumn period. We have an exciting opportunity to regenerate the site following its closure in 2016, and we certainly hope to see new buildings on the site by autumn next year.
"On completion, our investment in the site will exceed £60 million, with the potential to create more than 500 new jobs. I cannot think of a better located site, capable of providing this volume and scale of development so readily accessible to the motorway, ring road, city centre and labour force."
The joint agents are JLL and Knight Frank.
James Keeton, Director at JLL, added: "The scheme is located on one of the region's best connected sites, benefitting from both excellent links to the M1 and its proximity to Nottingham City Centre. The site will be very well received by the market and we expect to attract regional and national occupiers on a build-to-suit basis."
(MH/CM)
