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Place North West | NFU Mutual snaps up Rochdale s Amazon hub
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BARRATT DEVELOPMENTS ORD 10 - Consensus Indicates Potential -19 6% Downside
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BBC News
By Connor Gillies
image captionThe former steelworks site was originally earmarked for retail and leisure development
Families living in new homes on the former Ravenscraig site in Motherwell have described plans for a major industrial site on their doorstep as a monstrosity .
Almost 500 formal objections have been lodged against the proposals, which include a large rail complex for logistics firm Russell Group.
The company said the £200m development would generate hundreds of jobs.
And they said they would take every step to minimise disruption.
The development would be built on derelict land which was once home to the largest hot strip steel mill in Western Europe.
Industrial and logistics REIT Urban Logistics is forward funding 200,000 sq ft of warehouse space in two schemes in the East Midlands to the tune of £23 million.
It has exchanged contracts with Wilson Bowden Developments for the forward funding of five high-quality urban logistics assets at Nottingham and Leicester. Four units totalling 166,330 sq ft will be speculatively built on an 8.1-acre plot at Blenheim Park in Nottingham, while a further 43,850 sq ft unit will be built on a 2.5-acre site at Optimus Point, Leicester. The deal is subject to planning.
Both schemes will be built speculatively with construction expected to commence in September 2021. Practical completion is anticipated between September 2022 and February 2023.