The 140-acre Tudor Cross site at Bolsover could see speculative development in the new year, developer iSec has disclosed.
The East Midlands logistics site with permission for up to 1.1m sq ft, is next to bthe successful Markham Vale site developed by Henry Boot, and could benefit from overspill as Markham Vale reaches capacity.
The former colliery site is likely to see a first phase of 750,000 sq ft, with potential for a speculative element of up to 200,000 sq ft.
iSec is joint developer with St Francis Group. They replaced Goodman as developers at the site close to junction 29a of the M1 motorway.
Mike Forster, development director at iSec, said: “We’re remediating the site now, and looking at a first phase of 750,000 sq ft, with work probably commencing in the New Year. We’re already talking to some funding partners, looking at something similar to the deal we forward-funded in Bristol at Horizon 38. If we forward-fund a speculative phase it is likely to be around 200,000 sq ft.”
“The Tudor Vale side is next to Markham Grove where they are starting to run out of land, so we think we are the next phase.”