Sale of HS2 strategic development site
Will attract inward investment opportunity for the region
A major mixed-use strategic land site anchored by the East Midlands’ Toton HS2 hub, is being marketed by the Nottingham office of property experts, JLL.
The 53.75 acre site, situated within the Toton Strategic Location for Growth area is expected to attract both national and international investors, creating a prime inward investment opportunity for the region.
Last month Prime Minister, Theresa May, reaffirmed the government’s commitment to delivering the whole of HS2 Phase Two and Derby and Nottingham City Council have announced ambitious plans to extend the tram network taking in Toton, to better connect emerging neighbourhoods.
Outline planning has been gained for the mixed-use scheme on part of the site, and an allocation for up to 800 homes across the strategic area alongside PRS, neighbourhood retail and office accommodation. An application for infrastructure funding for the wider area has been submitted to Homes England.
Anabel Christmas, development director at JLL’s Nottingham office said the site’s sale provided the opportunity to create a major new community hub for the region, attracting residents and companies who needed fast access to Birmingham and London.
‘The site provides significant investment potential for a development partner who wants to be a key driver in the place-making process and by enabling early involvement in what is the most significant development opportunity in the East Midlands, the successful investor will be able to shape the design, layout and character of the site.
“The site’s first-class connectivity will create access both nationally and internationally by road, rail and air and highspeed connectivity times to Birmingham of 19 minutes and London in just 51 minutes. “
The HS2 bordered site, is located in the Broxstowe District of Nottinghamshire, 1.4 miles from the M1, offering a direct north-south link through the Midlands and the existing NET park and ride adjacent to the site.
Confirming the significance of the site for attracting inward investment opportunities Lorraine Baggs from Invest in Nottingham said:
“HS2 is the largest infrastructure scheme in Europe and the largest investment in Britain’s transport system since the 1960s. A project of this scale is a once-in-a-generation scheme which will open up a wealth of investment opportunities for decades to come.
“Nottingham is increasingly attractive to inward investors across all sectors – thanks in part to the landmark Southside regeneration, believed by many to be the largest such scheme in the UK – and the arrival of HS2 will provide a further economic boost to the region. This strategically located site therefore offers significant opportunity to investors and developers, and we expect it to generate a great deal of interest.”
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 90,000 as of December 31, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.co.uk