Teams from Leicestershire, Derbyshire and Nottinghamshire are heading to the south of France to shout about the huge inward investment opportunities the region has to offer.
They will be attending the MIPIM property and construction conference taking place this week in Cannes – a whirlwind mix of presentations, networking, business meetings, meals and drinks receptions which attracts investors and developers from across the world.
The local delegations are made up of public and private sector representatives, who say MIPIM is an ideal place to set up quick meetings with people it might otherwise take weeks or months to pin down back home.
Jon Bennett, head of strategic property services at Leicestershire County Council, said exciting plans for the region include the creation of the East Midlands Freeport around the airport, Ratcliffe on Soar power station site and the East Midlands Intermodal Park in South Derbyshire.
He said: “The only inland freeport, it is set to deliver over 61,000 jobs for the region and an extra £8.9bn for the local economy over the next 30 years.
“The county council is also leading on an extensive carbon reduction programme and we are very interested in, for example, low carbon housing developments and new ideas such as renewable energy projects that can be applied to our estates to help offset our carbon usage.
“So collectively, we are heading to MIPIM to seek suitable partners on a very diverse range of potential opportunities.”
Rob McGuinn, who runs the Leicester office of property consultants MDA, chairs the Team Leicester delegation and is longstanding attendee.
He said: “Although the pandemic has caused the industry to slow down on a global scale, Leicester and Leicestershire have in fact, weathered the storm well.
“Our businesses are resilient; our people are tough; and consequently, our region has emerged with a degree of optimism – and this resonates in the continuation of the large volume of new developments that are there for all to see.
“Our theme, ‘Tackling Challenges and Converting Opportunities’, perfectly sums up the resilience and positivity of Leicester and Leicestershire and we are very much looking forward to collectively showcasing our region to the world at MIPIM.”
Below are some of the major schemes being used to promote what the region has to offer and potential investment opportunities:
Nottinghamshire:
Broad Marsh: Nottingham City Council wants the shell of the former Broadmarsh shopping centre to be “retained, reimagined and rewilded into a unique space to bring people together in the city”. The plans, drawn up by the Greater Broad Marsh Advisory Group, suggest it could deliver 6,000 jobs, more than 400,000 sq ft of commercial and business space and 750 homes. The advisory group was set up by the city council last March 2021 to draw up a “once in many generations” vision for regeneration following the impacts of Covid-19 and the impact of online retailing on the high street.
Nottingham housing: Nottingham City Council is investing £230 million in a five-year investment programme in its housing stock. The programme provides funds for improvements to properties, new build council housing and improvements to estates. It will also need to fund improvements to make council homes warmer and more energy efficient, both in new builds and retrofitting of the current stock.
Ratcliffe-on-Soar power station site: Operator Uniper said the coal-fired power station will fully close in September 2024, prior to the site being transformed into a zero-carbon technology and energy hub. The power station with its eight cooling towers is a prominent landmark on the A453. After the first unit shuts, the remaining three will continue to function until the end of September 2024, under Uniper's existing energy supply agreements with the Government. Uniper is now looking at what comes next for the site and exploring options with local and regional stakeholders.
The Island Quarter: The 36 acre development is a vital part of the regeneration of Nottingham’s Southside area with the Conygar Investment Company working closely with Nottingham City Council. The Island Quarter masterplan, which received outline planning approval in April 2019, has been designed to include hotels and hospitality, office space and community living. Recent changes to the plan were made in the wake of the coronavirus pandemic, adding 100,000 sq ft more green space and rethinking the street plan to create what has been called an “urban river”. The first phase of redevelopment, The Canal Turn, will bring a new three-storey restaurant, bar and meeting and banqueting space to the city’s waterfront.
Boots Campus: The high street giant appointed ilke Homes to lead the proposed multi-million-pound redevelopment of its enterprise zone site. The developer has plans for the grounds of Boots' headquarters in Thane Road, Beeston, to have 622 homes. The idea is to create the biggest low-rise modular housing development in the UK. The site would also include commercial space.
Leicestershire:
Charnwood Campus, Loughborough: After a slow start, the former AstraZeneca research site on the outskirts of town has been transformed into a science, technology and enterprise park. With a particular emphasis on life sciences it forms part of the Loughborough and Leicester Enterprise Zone, and tenants already include Charnwood Molecular, 3M Drug Delivery Systems, Kindeva Drug Delivery and Almac. The site offers lab and office space for immediate occupancy and development land.
Loughborough University Science and Enterprise Park: The site on the edge of the university campus is home to tech start-ups, major sports bodies and huge businesses such as Access which makes business software. It is right next to junction 23 of the M1 in the heart of the country and offers a number of design and build opportunities.
Airfield Business Park, Market Harborough: The prime, mixed-use office, industrial and warehouse scheme, north of Market Harborough, has outline planning consent for up to 330,000 sq ft of commercial space. The first phase is a new speculative industrial and warehouse scheme delivered by Leicestershire County Council. It was completed in December 2019 and offers units to let up to 16,000 sq ft.
Pioneer Park: Located next to the National Space Centre, Pioneer Park is a hub for technology, innovation, science and knowledge-led industry. It is home to Dock incubator workspace, supporting 42 innovative, knowledge-based technology businesses, with Leicester City Council recently completing a three-storey extension to Dock for 12 units of grow-on space.
Space Park Leicester: The newly opened £100 million hub offers a collaborative working environment bringing together industry and academia. Backed by the University of Leicester and its partners it has already attracted satellite communications companies, engineering giants and companies which process satellite data to improve life on earth. Plans are underway for a satellite production line.
Derbyshire:
Becketwell: Work on phase one of Becketwell is underway, with the construction of 259 apartments on the site of the former Debenhams store in Victoria Street. That will be complemented by a new public square on the site of the former Central United Reformed Church, set for completion in spring 2023. Last October, Derby City Council granted planning permission for the new 3,500 capacity performance venue on the site of the former Pennine Hotel, Pink Coconut nightclub and Laurie House offices.
Market Hall and Eastern Gateway: The city of Derby has been given £15 million towards the two major city centre projects from the Future High Streets Fund. The money will help turn the Market Hall into an attractive, flexible retail and leisure destination and to create a new gateway to the city centre. The Eastern Gateway will transform the entrance to the Eagle Market, creating a welcoming arrival from the bus station. Public realm improvements will be undertaken with remaining funds.
Nightingale Quarter: Work on the £150 million city centre development on the former Derbyshire Royal Infirmary site, off London Road, started last year and is continuing to progress. Covering more than 18.5 acres, about the size of nine football pitches, the site is being transformed into 796 new homes by Wavensmere Homes. The property developer recently announced that its first apartment building of 140 properties, Strutt House, has sold out.
SmartParc: Last autumn property investment and development specialist SEGRO signed up to build the £300 SmartParc food manufacturing campus in Derby. The developer – which is behind the 700 acre East Midlands Gateway warehouse park near East Midlands Airport – is partnering with SmartParc to build the 1.85 million sq ft, high-tech food manufacturing and distribution campus on a 112-acre site near Spondon. The former Celanese site will offer manufacturing facilities, start-up units and be home to a Food Manufacturing Technology Centre of Excellence. It is expected to lead to 5,000 new jobs and bring millions of pounds into the local economy.
Chesterfield regeneration: A multi-million-pound development to transform a major part of the north Derbyshire town from a wasteland filled with overgrown plants and derelict buildings into a retail, commercial and residential hub is well underway. Chesterfield Waterside is going to cost around £340 million and cover around 40 acres. The plans call for 173 homes on the Waterside Quarter, 310 built to rent apartments, a multi-storey car park, an office building and an 84-bed hotel in Basin Square. There will also be changes to the area around Chesterfield train station to create a gateway to the Waterside development from the railway station.
