A regional developer has acquired the former Soufflet Malt site in Grantham from SBM Scotgrain for an undisclosed price.
Working closely with South Kesteven District Council (SKDC), the planning department and local stakeholders, the developer is seeking to bring forward a £25m mixed-use employment scheme on the 6.24-acre gateway site.
A range of uses are being considered, including trade counter, warehouse, leisure and retail opportunities, with the final mix subject to planning.
The site is currently undergoing demolition and is expected to be fully levelled by Christmas paving the way for the next stage of its redevelopment.
Victor Ktori, head of office and commercial East Midlands at Savills, which advised the unnamed developer on the acquisition, said: “We are pleased to have closed the acquisition of this landmark site in Grantham on behalf of our regional development clients, its redevelopment marks an exciting new chapter for the town. With an investment of around £25m planned, we are working closely with SKDC and local stakeholders to bring forward a mixed-use employment scheme that could create hundreds of new jobs. We are keen to progress the site as quickly as possible and deliver new business and investment to Grantham, with opportunities for trade counter, warehouse, leisure and retail uses.”
