Markham Vale Enterprise Zone - Cushman & Wakefield

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Markham Vale Enterprise Zone


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The Challenge

Markham Vale Enterprise Zone is located at junction 29A of the M1 between Sheffield and Nottingham. It has become an established industrial and logistics location, promoted by Derbyshire County Council together with their commercial partner Henry Boot Developments. Comprising approximately 200 acres of previously used land, the Council is promoting the further growth and expansion of the site, utilising its designated status as an Enterprise Zone. Cushman & Wakefield were appointed to advise the Council in the development and expansion of the site, in particular in utilising the incentives afforded by EZ status.

The Solution

  • Market assessment and appraisal
  • Assessment of business rates additionality and how such rates could be used to invest upfront in the site enabling works via Tax Increment Financing (TIF)
  • Advice on methods and mechanisms for public and private sector collaboration to overcome commercial viability challenges
  • Strategy and business case for public sector investment in site infrastructure and enabling works to unlock new phase of development at Markham Vale North
  • Development Appraisals and business case to enable public sector investment into the development of speculative industrial development scheme
  • Representation at DCLG and HM Treasury review meeting to present business case for Government investment
  • Economic impact assessment

The Results

As a result of our advice a Government investment package of £14.2million was secured comprising £12million for infrastructure works to unlock 82 acres of previously developed land at Markham Vale North and £2.2million of gap funding for a 100,000 sq ft industrial building on Markham Vale East. The work has helped expand and develop Markham Vale as an established prime industrial location in the M1 corridor that goes from strength to strength.

Contact

Stephen Miles

Partner

Leeds, United Kingdom

Phone +44 113 233 7471

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