Fisher German have been appointed by property development and investment company, CEG, alongside FHP, to market the multi-million pound redevelopment of the Vesuvius site in Worksop.
Yorkshire-based construction company Harris CM will deliver the next phase of the redevelopment and move onto site this week. The first phase of the redevelopment includes 46,000 sq ft of industrial and retail space adjacent to the recently opened Asda superstore, three flexible food and beverage units and 16 light industrial units ranging from 1,200 to 5,000 sq ft.
Subsequent phases will offer larger employment units including speculative as well as pre-let, design and build development.
The first pre-let has already been secured to Burger King with a number of other deals well progressed with a variety of occupiers. This first phase will be ready for occupation in summer 2021.
Antonia Martin Wright, head of investment at CEG, said: “This first phase of employment units will establish Vesuvius as the prime industrial and business location in Worksop. It will be the largest speculative scheme of this scale and quality in Worksop for many years and demonstrates CEG’s commitment to the town.
“We are encouraged by the interest in the site and with such a shortage of supply of well located, flexible accommodation we expect it to swiftly let, particularly as improved road networks and new homes are bringing more inward investing businesses into the area.”
In 2018, supported by D2N2, CEG delivered a £5.5million package of works to create a new roundabout and access road opening up the site and remediating it for redevelopment. Asda completed its 70,000 sq ft foodstore and petrol filling station last year creating 200 new retail jobs. CEG has planning permission for more than 200,000 sq ft of employment space on the 47.5 acre site.
Cllr Jo White, Cabinet Member for Regeneration at Bassetlaw District Council, said: “We very much welcome this next stage of development which achieves The Council’s long-term ambitions and vision for the former Vesuvius site, Worksop and Bassetlaw as a whole.
“By working with developers like CEG, together we are able to create additional jobs and opportunities for local people, as well as provide extra services. Our strategic involvement in the site also means that there are good transport connections with a bus route that ensures the site is accessible to more people.
“We look forward to Harris CM starting work very soon and for this part of Worksop to become a key employment site.”
Ben Flint from Fisher German added: "Fisher German is delighted the scheme is moving forward to the next stage. This is an important development for Worksop and its business community, and one which will provide plenty of new jobs within the area. It is very encouraging that we already have a good number of pre lets agreed to well-known national trade and industrial occupiers, and with the new Asda site next door, this is the foremost commercial development within Worksop. With the demand for industrial and trade space remaining strong over the past twelve months, we encourage any potential interested parties to get in touch with Fisher German or FHP as we expect take up to increase further now construction work has started.”