HBD and Oxenwood complete £54m PowerPark

Property developer HBD has completed PowerPark in Nottingham, providing 426,000ft² of sustainable industrial and logistics space on a 28-acre site formerly occupied by Imperial Tobacco.

Construction on the seven units began in May 2022 following a £53.8m forward-funding deal with Oxenwood Logistics Fund 1 SLP, a discretionary fund managed by Oxenwood Real Estate.

Each of the seven units meet BREEAM “Very Good” standards with EPC A rating. The units range from 145,764ft² to 32,504ft² with the larger units benefitting form 15m eaves and the smaller 8m eaves. All boats two storey offices with dock and level access doors.

Justin Sheldon, Director and Head of Region at HBD, said: “Supply remains constrained throughout the region and our decision to develop PowerPark demonstrates our confidence both in the scheme and established demand.”

Jeremy Bishop, co-founder of Oxenwood, said: “The variety of unit sizes and their specification are designed to address the regional demand in a market with an acute undersupply of 30,000ft² – 150,000ft² units.”