Leeds-based Castlehouse Construction has started work on a £3.3M commercial property development at Sherwood Energy Village in Ollerton, delivered by CRT Property Investments Ltd.
Mark Spencer, MP for Sherwood, visited the site launch to show his support for the ambitious 32,000 sq ft business and industrial use scheme, which is set to create and safeguard vital jobs in the former coal mining town.
The project will provide 10 business units, comprising between 2,000 and 7,500 sq ft with the opportunity for combined space of up to 13,000 sq ft.
Located opposite Eco Court, the development is planned in three blocks around a central parking and loading area with convenient access to the A614, which leads North to the A1 and South to Nottingham.
Planning approval was granted in April 2016 and Castlehouse is scheduled to complete the build by Spring 2018. The scheme is backed by a £2.8m investment from CRT Property Investments Ltd, the wholly owned subsidiary of the Coalfields Regeneration Trust, and a further £500,000 from D2N2, the private sector-led Local Enterprise Partnership.
Richard Lumley, chairman of Castlehouse Construction, said: “We are delighted to start work on this significant commercial property development which promises to bring future opportunity and prosperity to a coalfield community by regenerating 2.2 acres of unused land.
“We look forward to working with CRT Property Investments Ltd to deliver this sustainable scheme.”
Based within Sherwood Energy Village, the project will be delivered in a sustainable, environmentally responsible way and will create 38 jobs with a further 26 safeguarded as a result of the build.
Shaun O’Brien, property investment and development director, CRT Property Investments Ltd, said: “The investment in Sherwood Energy Village is a further step forward as we commit to a plan which will see more commercial space become available in coalfield areas; those that most developers would traditionally avoid.
“As well as bringing business units that can be accessed by local companies and those that are looking to take the next step into larger commercial and industrial premises, we will see vital jobs in the area protected and created.”
Mark Spencer, MP for Sherwood, said: “I am very encouraged to see the progress that has been made with the Sherwood Energy Village.
“The Coalfields Regeneration Trust has done wonderful work for those people, including my constituents, who live in former coalfield communities, and I am clear that this is exactly the kind of project that we need if we are going to truly transform people’s lives for the better.
“I know that local businesses are on board, and I am certain that this project will provide the investment and opportunities required to help the local economy move forward.”
The development is just one of many taking place throughout the country as CRT Property Investments Ltd identifies further opportunities in former mining towns and villages.
With a commercial and residential property portfolio, the objective is to provide the infrastructure that will support the growth of these communities, many of which are within the 30 per cent most deprived in the country.
As the only organisation dedicated to the 5.5m people living in former mining towns and villages throughout Britain, the Coalfields Regeneration Trust is asking government and partners to help to create an investment fund of £40m for the coalfields.
The £40m will be used to develop new industrial space in the coalfields, bringing much needed jobs to the communities. Over the next 25 years this will produce £50m in sustainable income, which in turn will be invested in to social impact projects, creating a wellbeing value of £500m and a generation of lasting legacy.