The 14-acre industrial site, Rothley Lodge Commercial Park, near Loughborough, has been acquired from Samworth Brothers, with funding provided by a syndicate of Mattioli Woods investors in a deal that completed on the 14th July. The site will be developed by Rotherhill Developments.
With scope for a range of design and build industrial buildings totalling in the region of 223,000 sq. ft., planning for three buildings on the new Rothley Lodge site is expected by the end of 2017, with consent for B1, B2 and B8 manufacturing and light industrial buildings.
The premises will be available on a leasehold or freehold, ‘design and build’ basis, creating a a rare opportunity for potential occupiers in the current commercial and industrial property market climate, where bespoke space in the sub 150,000 sq. ft. category is in short supply.
Rothley Lodge is located just off the A6 Loughborough Road to the north of Leicester, between Mountsorrel and Rothley, making it ideally located for links to the A46 Northern Bypass and Junction 21 and 22 of the M1.
The full site comprises of around 22-acres, originally acquired by Rosemound in 2004, with the majority developed for Sofidel (formerly L.P.C.) as a substantial converting plant and warehouse.
Commenting on the acquisition of Rothley Lodge, Paul Bagshaw, Rotherhill’s owner and MD, said:
“This new industrial development site offers huge scope. It represents a rare opportunity for an occupier to design and build to meet their needs, and a chance for growing businesses in the Leicestershire area to facilitate the next phase in their expansion with the option to either lease or buy premises, and potentially create jobs for the local community too.
“Demand for industrial space in the East Midlands is increasing and remains ahead of the national average. With its location on Leicester’s gateway, the Rothley Lodge site represents a rare opportunity in an area that has a real lack of available land and buildings, and which delivers excellent surrounding road links and infrastructure.
“There are few opportunities for local owner occupiers to purchase on a freehold basis as most of the units built recently are over 150,000 sq ft and don’t cater for the vast majority of business and commercial occupiers that are looking for much smaller premises, and this has restricted their expansion and the chance for them to take-up new premises.
“With Rotherhill’s proven track record and experience in successfully delivering commercial property projects across the Midlands, we will ensure the development delivers a site that meets the needs of the local business community, to support their growth and operational plans and provide the chance to be based in one of the area’s prime commercial locations.
“We anticipate the buildings at Rothley Lodge will generate strong interest from local and regional potential occupiers, particularly in the current market.”
Ben Aspell, business development manager of Custodian Capital – the property fund management subsidiary of Mattioli Woods plc – said:
“We are delighted to have completed the acquisition of the site at Rothley Lodge on behalf of investors from Mattioli Woods plc.
“In addition to this, we are very excited to be working with the developer, Paul Bagshaw of Rotherhill Developments Ltd, to deliver an industrial scheme that we believe will be very well received in the current market given the shortage of supply available.”
Agents for the Rothley Lodge scheme will be Andrew Ashwell and Fisher Hargreaves Procter, and buildings are being offered on a freehold or leasehold design and build basis.