Work to create a new restaurant, food store and multiple employment units on a Netherfield development site could start this year after the land was sold in a £30 million deal.
Property firm AC Lloyd has teamed up with retail development specialist Henry Davidson Developments (HDD) to bring forward plans for the 20-acre Teal Park, off Colwick Loop Road.
The site already has outline consent for development, but now full plans are now being drawn up by the group to create a centre which would also include a care home, drive-thru outlet, children's nursery and a 50,000 sq ft trade park.
Mark Edwards, managing director of AC Lloyd Commercial: "The commercial division of AC Lloyd is growing all the time and this site is a perfect opportunity to introduce ourselves to Nottingham and the wider East Midlands to showcase the type of work we can deliver.
“This is a really exciting venture which has plenty of potential and we have already attracted interest from regional and national brands to occupy space in the trade and employment sections of the site.
“Teal Park is part of a wider development involving Persimmon Homes providing 830 homes (Teal Close), sports pitches, an ecology park and a primary school so the facilities we would like to provide will really complement their scheme.
“A deal has already been completed with national residential care home developer LNT Care Developments which underlines the need for this kind of facility in this area of Nottingham.
“We are set to provide a range of units which would be ideal for light industrial businesses and we are looking forward to working with Henry Davidson Developments for the first time on this development."
The scheme will be delivered on a phased basis over the next three years with work expected to start this autumn, should full planning permission be granted by Gedling Borough Council.
Scott Davidson, managing director of Nottingham and Birmingham based HDD, which is delivering the project on behalf of AC Lloyd, said: “I am delighted on behalf of the HDD team to have secured AC Lloyd as funder and development partner, the HDD team has worked hard to deliver this opportunity and the level of occupier interest is very exciting.
“The project is key to Gedling Borough Council and HDD is proud to be involved in delivering this significant employment generating opportunity.”
More than 800 homes are expected to be built on the Teal Close development - named Rivendell as a nod to the area's association with The Lord of The Rings - as part of a multi-million regeneration planned across Gedling. Almost 200 properties have already been approved and the first keys were expected to be handed over in March.
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