Aureon Partners, advising the Quilvest real estate funds, and Arax Properties have secured planning consent for 300,000 sq ft of new manufacturing and logistics space across two adjacent sites at Falcon Park in Loughborough.
The development will provide units ranging from 3,900 sq ft to 110,000 sq ft suitable for traditional and high-tech manufacturing uses and modern logistics operators.
Phase 1 of the development, Falcon Park North, will offer a series of new build units ranging from 16,605 sq ft to 66,350 sq ft and build-to-suit options of up to 110,000 sq ft.
Phase 2 of the development, Falcon Park South, will offer a range of smaller units incorporating office suites from 3,900 sq ft to 15,800 sq ft.
Giles Morse, partner at Arax Properties, said: “We are excited to get the go ahead to develop new, high quality business space providing flexibility for a range of occupiers within this very well established business park with an illustrious manufacturing history. This is a fantastic opportunity to become part of a thriving business community, capitalising on its heritage, community and strategic location.”
Alex Reid, from Mather Jamie, joint letting agent at the scheme with Commercial Property Partners (CPP), added: “Falcon Park has been a superb industrial and engineering base for the town of Loughborough for many years. It is positive to see much needed new industrial development being brought forward on site. Falcon Park is a fantastic location for Loughborough and regional businesses with strong engineering background and workforce locally.
“With ready access to the M1 at both junction 23 and 24 together with regional central location between the major conurbations of Leicester, Nottingham, and Derby and nearby East Midlands Airport the Falcon Park could not be better located.”
Sean Bremner, from CPP, said: “Securing the planning and being able to implement the next phase strategy for the onward evolution of Falcon Park is fantastic news for Loughborough. For generations this location has been a key employment hub for Loughborough and its surrounding catchment. The new development promises to deliver high quality, best-in-class accommodation with design references to the engineering heritage providing economic growth and job opportunities in a superbly connected location.”
