Fund pump primes 1.4 million sq ft logistics park

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The South Yorkshire Pension Fund together with the SCR JESSICA Fund have provided £15m to support a new 1.4 million sq ft logiscs and industrial development off the M1.

The funds have provided a £15.25m senior and mezzanine debt facility to support the development of infrastructure, which is set be the catalyst for a strategic logistics and manufacturing site in Bolsover, adjacent to J29a of the M1 between Sheffield and Nottingham.

D2N2 LEP, the Local Enterprise Partnership for Derby, Derbyshire, Nottingham and Nottinghamshire, has contributed £5.8m of grant funding towards land preparation work, readying the site for development. Derbyshire County Council has also committed a further £2m grant.

The Horizon 29 scheme, from joint venture partners iSec and St Francis Group, is set to bring forward 94 acres of employment land to accommodate 1.4 million sq ft of development.

The project is designed to attract high-quality occupiers to the site and support the creation of more than 2,000 jobs.

CBRE advised.

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