Specialist pan-European property developer, investor and manager Mirastar and partner Equation Properties have started construction of Phase 1 at Arterial Park in Essex.
Completing in the third quarter of 2021, phase one will consist of nine speculatively developed units ranging from 4,850 – 22,930 sq ft within two terraces.
A detailed planning application has also been submitted for a single 320,310 sq ft cross-docked unit, which will comprise Phase two of the scheme and is targeted to start on-site in late 2021.
Arterial Park is strategically located four miles to the east of Basildon and ten miles to the South of Chelmsford. It will be developed to the highest of standards with outstanding sustainability credentials such as EPC A and BREEAM ‘Excellent’. CBRE, DTRE and Glenny have been instructed as letting agents for the scheme.
Richard Batham-Read, Development Director of Equation Properties, said: “The region is significantly undersupplied with units of this size, and now construction has commenced we are excited to complete the delivery of the scheme.”