A property investment company has bought another share in a £30 million Nottingham trade park.
Northwood Urban Logistics bought the first phase of the Teal Park trade units last November. Based off the Colwick Loop Road, in Netherfield, that phase is now fully occupied by tenants including Toolstation, Screwfix, Howdens, Trent Valley Windows, Trent Vehicle Charging, Karcher UK and Paintwell.
The same company has now bought the second phase of six trade units from developers Warwickshire-based AC Lloyd Commercial and Nottingham-based Henry Davidson Developments.
A third and final phase, made up of six larger employment units which range from 9,600 sq ft up to 31,500 sq ft, is set for completion later this year.
Mark Edwards, managing director at AC Lloyd Commercial, said demand was strong because there remained a lack of high-quality trade units in Nottingham.
He said: “Teal Park has been a real success story for AC Lloyd Commercial and this latest announcement underlines our commitment to delivering a premium mixed-use site for businesses and the local community.
“Work is now underway on the third and final phase of creating Teal Park which we hope to complete this autumn.”
Iain Taylor, director at Northwood Urban Logistics, said: “Enquiries remain strong at Teal Park since the market for trade units of this size remains on the up particularly when you add in Nottingham’s excellent transport links with the rest of the UK.”
