St Francis Group and ALMCOR have completed on the pre-sale of a 113,872 sq ft prime industrial unit at Horizon 29 to PCT Healthcare Ltd.
The development located adjacent to Junction 29A of the M1 and Markham Vale is being delivered by Bolsover Land Ltd, the second joint venture partnership between St Frances Group and ALMCOR (formerly known as iSec).
This quickly follows the recent sale by the JV of 80 acres of land at Horizon 29 to Bentallgreenoak for the speculative development of 1.2 million sq ft of warehouse and logistics space.
When complete the park will comprise eight industrial/warehouse units from 73,174 sq ft to 250,000 sq ft.
The opportunity to purchase the site in Bolsover allows PCT Healthcare (trading as Peak Pharmacy) to consolidate their depots into a purpose-built unit.
Horizon 29 was acquired by Bolsover Land as a brownfield site in need of extensive remediation and with the help of public sector funding support from North East Derbyshire District Council, Bolsover District Council, Derbyshire County Council and the D2N2 LEP, the developers recently completed extensive infrastructure works to regenerate the site and create 4 development ready plots ready for immediate development.
Gareth Williams, development director at St Francis Group, part of the Joint Venture and who oversaw negotiations, said: “Large regeneration projects have a long lead-in time and Horizon29 was no exception, so securing the first occupier is an exciting milestone.
“On behalf of the Joint Venture, I’m delighted to have reached agreement with PCT Healthcare and look forward to working with them on this part of their next chapter. Work on site will begin in June and the new unit will be handed over in April next year.”
CBRE and Knight Frank acted for the Joint Venture.
Mike Baugh, senior director, CBRE Industrial team Leeds, said: “It was great working with our clients Bolsover Land Ltd on this project and to advise on the first unit to be built at Horizon29, a scheme that will quickly become an exciting new business location. PCT and their acquisition team at WT Gunson were a pleasure to deal with.”
Joe Cattee of PCT said: “I’m delighted to have managed to get this acquisition over the line. The possibility of relocation to this site completely revolutionizes how Peak Pharmacy operate.
“The pressures on the business over the last 18 months have been extreme to say the least, and by having the ability to locate all our supply depots into one location, and free up capacity across our Pharmacy network, our colleagues and patients should see these pressures reduced and a better service, and atmosphere for both should follow.
“I’m very thankful to our legal representation CMP Legal, based in Chesterfield, and our Consultants team, WT Gunson, based in Manchester for their continued support in the development of our business.”
Jack McCabe, senior consultant at WT Gunson, acted for PCT Healthcare Limited.
