Investment and development company Cole Waterhouse, working in partnership with funding partner Peveril Securities, has submitted a planning application for the development of a 15-acre employment site on the Lymedale Business Park, Newcastle-under-Lyme.
The plans outline the development of a light industrial scheme which could see the creation of over 630 new jobs in the area, delivering up to £37.3m GVA for the local economy. Consultation with local residents demonstrated that almost three quarters of respondents felt that the proposals would have a positive impact on the area, with 77% saying additional local employment was needed and 80% agreed that employment use was the most appropriate re-use of the site.
MHA Architects and Lichfields planning consultants have supported Cole Waterhouse in preparing the application. The proposals remain flexible and could deliver one, two or multiple industrial units with a combined maximum floorspace of 300,000 sq ft, to ensure a range of potential occupiers can be accommodated.
In addition to the creation of permanent jobs through the operation of the industrial units, it is anticipated that around 144 construction and 169 supply chain jobs will be supported during the two-year build programme with total investment in the region of £19.9m.
The proposals also outline the intention to close the site’s existing access via Loomer Road, reducing the current volume of traffic on the road. Once the site is developed access would be via Pit Head Close. The proposed development would also see the creation of a new public footpath and a cycleway linking Loomer Road and Pit Head Close to improve connectivity to the main employment zone from the Chesterton residential areas. Additional planting and landscaping at the perimeter of the site will help to promote biodiversity and support local ecology.
Speaking about the team’s vision for the Lymedale Business Park site, Damian Flood, CEO at Cole Waterhouse, commented: “Our plans will create significant new local employment opportunities and secure a thriving future for the area. It is in an excellent location surrounded by existing light industrial buildings, offices and warehouses and we are excited by the potential to breathe new life into a currently unused brownfield site and bring additional and complementary facilities to this thriving employment area. The project team has been consulting closely with the Council, key stakeholders and local residents to create an employment-led scheme which will deliver maximum economic benefit to the local area.”
He added: “We are really pleased to be moving into this new development sector with this exciting scheme and we will be aiming to secure more industrial and logistics projects as the year progresses. Cole Waterhouse will be focusing on growing its student and high-rise residential portfolio through 2020 and will also look to branch out into care home sector, hotels, strategic land, and asset repositioning opportunities.”