A 20-acre site in the Nottingham town of Netherfield has been purchased for a new mixed-use development.

The land at Teal Close will be the home of new retail and employment spaces after outline planning permission was granted for the scheme.

The project will consist of a pub/restaurant, care home, retail units and children's nursery as well as a 50,000 sq/ft trade park (up to 12 units) and 145,000 sq/ft of employment units (across six premises). 

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Severn Trent's property arm, Midlands Land Portfolio Limited (MLPL) sold the site to AC Lloyd in conjunction with Henry Davidson Developments.

Julie Rossiter, head of property development for Severn Trent, explained:  "We're delighted that by making our business more efficient, we were able to free up land to help create this development. We are excited to report the sale of this site to a local Midlands based developer and are proud to be using our redundant land assets to provide local services and jobs for the communities we serve. A proportion of the resulting profits from this sale will be shared with our customers, helping to keep future water bills lower."

Construction work is expected to start later this year.

(CM/JG)