£30m deal for major mixed-use site

Land in Nottingham earmarked for a major mixed-use project has been sold for £30m.Warwick-based AC Lloyd has joined forces with Henry Davidson Developments to purchase the 20-acre site at Teal Park.The site, located off the Colwick Loop Road in Netherfield, has outline planning consent for a pub/restaurant, care home, food store, drive-thru outlet and children’s nursery as well as a 50,000 sq ft trade park for up to 12 units and 145,000 sq ft of employment units across six premises.Detailed plans are currently being finalised ahead of a reserved matters application being submitted to Gedling Borough Council.HDD will be responsible for delivering the project on behalf of AC Lloyd and finalising completion of infrastructure with the vendor, Midlands Land Portfolio – a subsidiary of Severn Trent.The scheme will be delivered on a phased basis over the next three years with work expected to start in autumn this year should full planning permission be given.