News - 25 February 2015

£12 Million Development Gets Underway

City councillors have toured a Nottingham city regeneration site, which will create hundreds of jobs and boost much-needed skills and training for local people.

Work has now started on a £12million scheme at Eastpoint Retail Park in Daleside Road, Sneinton; providing investment for the city, and 200 jobs from construction phase, through to completion.

L to R Nick McDonald David Mellen Peter Gadsby

(From Left – David Mellen, Local Ward Councillor, Peter Gadsby, D2N2 Board Member and Chair of Cedar House Developments, Nick McDonald, Nottingham City Council’s portfolio holder for jobs and growth)  

The site is owned by leading regional developer Cedar House Investments, whose Chairman Peter Gadsby also leads the Investment Panel of D2N2; the Local Enterprise Partnership for Derby, Derbyshire, Nottingham and Nottinghamshire. Grants awarded through the Investment Panel, funded by D2N2’s Unlocking Investment for Growth (UI4G) scheme, promote the creation of sustainable jobs in the D2N2 area. UI4G is funded by the Regional Growth Fund and the European Regional Development Fund.

Mr Gadsby said: “After so many years of this five-acre former Sunlight Laundry site lying derelict, this is a significant landmark that this scheme has started on site. Eastpoint will further facilitate investment in Waterside as this area of the city continues to thrive.

“We know that our retail development, which is anchored by an Aldi food store, is much needed for the people of Sneinton. The three retailers which move in this year will create 100 jobs. Cedar House is already engaged with the city council’s employment hub creating new jobs both during construction and when the scheme is open.”

Other retailers – set to be trading on the site by Christmas – include Poundland and Costa Coffee, added Mr Gadsby.

The site is 60% let with Aldi as the anchor retailer, taking up an 18,200sq ft unit. The building contractor for the site is Radleigh Construction. Joint agents JLL & FHP are marketing the remainder of the Eastpoint site.

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