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Speculative development to open in Derbyshire

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Investor BentallGreenOak and development partner Equation Properties have bought an 80-acre slice of a Markham Vale logistics site and plan a 1.2 million sq ft logistics scheme.

The partrners bought the site from St Francis Group and Almcor in a £39.9 million deal.

The former Coalite works site is at Junction 29A of the M1 in Derbyshire.

The first phase of the Markham Vale site already has planning consent, and speculative development will begin during the spring quarter. The first units are likely to be ready for occupation by the end of the year.

The vendors say they will reinvest the proceeds in developments in London’s crowded warehouse scene.

The vendors were advised by JLL and Clyde & Co and the buyers, BGO and Equation, were advised by Burbage Realty and Taylor Wessing.

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