Cedar House Investments is to redevelop the former BOC site on Raynesway in Derby.
Plans for Axion Business Park include a major 10 acre warehouse, industrial and office development that will include units from 2,000 sq ft – 160,000 sq ft.
The new scheme will help to address the current shortage of quality industrial and warehousing space in the city.
Matthew Smith of King Sturge, said: “Axion offers great flexibility as it is able to accommodate a broad range of requirements to satisfy local businesses and major corporate occupiers.”
Demolition work will be underway shortly and construction work is set to commence in the New Year. Occupiers can be guaranteed possession of this prime space before the end of 2008.
Commenting on the scheme, Justin Sheldon, development manager of Cedar House Investments said: “Until recently, there has been very little development of industrial and warehouse space of any significant size in the city, which is principally due to the current shortage of suitable land.
“Axion Business Park occupies what is without doubt the best industrial location in Derby.”
Joint agents for the scheme are King Sturge and Rigby & Co.