Work underway on £47m Maidstone scheme – Insider Media

Clearbell Property Partners III has begun ground works on the second phase of its LOC8 development in Maidstone.Located at Junction 8 of the M20, LOC8 represents a £47m investment into the area and has the potential to generate up to 1,200 jobs.Phase two is designed to realise the site’s full potential and see 185,200 sq ft of space developed across seven units, with completion targeted for Q3 2024.Toby Saul, associate director at Clearbell Capital, said: “There is an evident need for quality commercial and logistics space in the South East with significant shortages hampering businesses and stifling growth.”As a key economic hub with significant, long-term growth potential, it’s important that developers continue to focus on delivering high quality commercial and logistics space for the region.”LOC8 does just this, providing an ideal location for businesses and industry to attract the right talent and access global markets.”He added: “The start of the next phase of works marks an exciting milestone towards completing a project that we set out to deliver when initial works started in 2022 and will support us in our vision to provide more opportunities and returns for our investors and jobs for the local economy.”Clearbell was advised by CBRE and Caxtons.