A planning application for new workshops and depots has been submitted on a derelict parcel of land on Osmaston Road with the relocation of companies from Castleward clearly in mind.
The proposed redevelopment of the former foundry site is the result of an agreement between land-owners Rolls-Royce and Ivygrove Developments.
John Blount, Chairman of Ivygrove, who is managing the project, expressed his delight at the progress so far. “Rolls- Royce wants to see its site reutilised in a way which benefits the local community and Ivygrove is skilled at delivering the type of regeneration project that is perfect for this site.
“We are particularly pleased to have agreed an innovative acquisition package with Rolls Royce which specifically focusses on benefits for the local area. In addition, having carried out many similar projects across the city, we know the scheme will create jobs.
“Furthermore, the scheme can generate a wider economic boost to the city and we are already in advanced discussions with a number of interested parties including Castleward companies who were specifically targeted.”
The development of the 9-acre site, which will be called Merlin Park, will include speculatively-built workshop units as well as those being earmarked for bespoke relocations.
Stephen Salloway, Managing Director of Salloway Property Consultants, advised Ivygrove in the transaction. “A total of 17 Units are planned, ranging in size from 2,000 sq. ft. to 8,000 sq. ft., and these will be offered both for sale and to rent”.
“The market for small Workshops is very strong at present and this site provides an ideal opportunity for Ivygrove to roll-out its excellent product”.
“Merlin Park is a good-sized scheme in an established industrial area which has been undergoing gradual regeneration over many years and will create a new business community not too dissimilar to the nearby Sir Francis Ley Industrial Park.”
Ivygrove plan to undertake the necessary site preparation works as soon as planning permission is granted, with construction commencing in the autumn of 2022. The first occupations of the new units are expected to take place early in 2023.
