Property developer HBD has started work on two speculative warehouses at Markham Vale in Derbyshire.
HBD will bring forward two units of 221, 518 sq ft and 75,000 sq ft, which will complete the final plot at Markham Vale North.
Located at Junction 29A of the M1 in Derbyshire, Markham Vale is a joint venture between HBD and Derbyshire County Council. The site has the capacity to deliver over 2.5 million sq ft, with over 2m sq ft completed to date.
The £25m scheme is fully-funded by Aver Property Partnership, a JV between Ergo and NFU Mutual.
Work on site started this week, with completion scheduled for Q1 2021.
Martin Jepson, founding partner of Ergo Real Estate, said: “Well-located, high-quality industrial stock will perform well in both the short and long-term – particularly within landmark schemes like Markham Vale, which benefits from proven longevity and appeal.”
Circa 225,000 sq ft now remains at Markham Vale, which can accommodate flexible design and build options up to 40,000 sq ft.
HBD’s speculative build, MV55, a 55,000 sq ft warehouse, is now complete and available to let.
Joint letting agents are Knight Frank, JLL and Burbage Realty.