Wednesday, 25 November 2015
Geldards Advises Developer on Major M1 Development Expansion
Chamber member Geldards has played a major role in advising Clowes Developments on exchanging contracts with Alloga for the construction of a further distribution facility for them on site of 220,000ft².
Wholly-owned and developed by Clowes Developments, Castlewood is one of the East Midlands' distribution success stories.
Totalling over 120 acres, the site already has over 1,000,000ft² constructed, including the existing facility for Alloga of 220,000ft² augmented by other household names such as the Co-Op, Bombardier and Parker Knoll among others.
The latest deal will see on a plot adjoining Alloga’s current base a further distribution facility of 220,000ft² constructed as Alloga’s business progresses from strength to strength.
Heather Dixon, Partner in Geldards’ Derby real estate team, led on the transaction, alongside Leanne Cook, Senior Associate, Real Estate with Chris Hawrylak, Senior Associate, Infrastructure & Construction.
Heather explained: “We’re delighted to have been involved in a project that plays a fundamental role in the region. This latest transaction is a testament to the continued growth of two local companies in the East Midlands and the success of Castlewood as a major employment and distribution location. Alloga and Clowes were keen to exchange contracts as quickly as possible to enable work to start on
site following receipt of the planning consent. Having dealt with the first facility we were able conclude the documentation in a short timescale.”
Development Director of Clowes Developments, James Richards, commented: “I am delighted to be able to announce this latest success at Castlewood and it gives me particular pleasure to see Alloga taking further space, confirming our shared thoughts that Castlewood is the prime distribution destination throughout the East Midlands.”
Claire Burns, Associate, of Browne Jacobson acted on behalf of Alloga.Back