Henry Boot Developments has recently completed the sale of two distribution and industrial investments at Markham Vale in Derbyshire, to Aviva Insurance, for a price reflecting a net initial yield of 5.3%.

The newly constructed properties comprise a 100,000 sq ft manufacturing facility let to Smurfit Kappa, which is currently occupied by inspirepac, a national corrugated packaging company acquired from the Logson Group in 2014.

The sales also include the 52,000 sq ft distribution warehouse at Markham Vale West which is let to Gould Alloys, one of the fastest growing specialist metals stockholders in the country. The sale to Aviva follows the successful £36million forward funding deal of Great Bear’s 480,000 sq ft new distribution facility by M&G Real Estate earlier this year.

Ben Ward, Director at Henry Boot Developments, said “The demand for these fully let investments demonstrates the confidence in Markham Vale as a location of choice for both occupiers and investors.

We are extremely pleased with the recent deals announced this year, and with our next phase of development currently underway, we are offering a wealth of opportunities for investors and occupiers at Markham Vale.”

Markham Vale’s strategic location adjacent to Junction 29a of the M1 alongside its Enterprise Zone status has seen excellent levels of take up over the last couple of years. The next phase of development, Markham Vale North, is currently being prepared for development and there is already a strong interest from a number of parties for large scale distribution buildings.”

Burbage Realty and JLL represented Henry Boot Developments in the latest Aviva investment deal.

A £7.5million link road to the M1 motorway – which will help ‘unlock’ development land with the potential to create over 1,000 new jobs – is to receive a third of its funding from the D2N2 Local Enterprise Partnership.

The £7.5m Seymour Link Road will link junction 29a of the M1 motorway to the Markham Vale Enterprise Zone site, north Derbyshire. The brownfield site, located on the former Seymour Colliery, is being redeveloped for industry – particularly the manufacturing, technology, environmental and logistics sectors – with the aim of eventually creating up to 4,100 new jobs across the whole site (732 have been created to date).

D2N2 has now agreed to give £2.52m towards the road, with the remainder of the £7.5million cost to be provided by the Sheffield City Region Local Enterprise Partnership (£3.78m) and Derbyshire County Council (£1.26m).

Markham Vale is invested in and covered by both the D2N2 and Sheffield City Region Local Enterprise Partnership (LEPs). There are 39 LEPs in England; private sector-led alliances between business, local authorities, skills and training providers, and community organisations which promote economic growth and jobs creation in their areas.

Work on the Seymour Link Road is due to begin in October (2015). It will open up an essential highway link to the M1 for 33 hectares’ worth of employment land plots, on the Markham Vale North site.

It is anticipated that the scheme will lever an additional £82m of private sector investment by 2022 through the delivery of 148,000 square metres of commercial space on the Markham Vale North Site by Henry Boot Developments Ltd; indirectly creating approximately 1,235 new jobs, on the Markham Vale North site.

The Seymour Link Road is due to be completed by August next year (2016).

David Ralph, Chief Executive of the D2N2 Local Enterprise Partnership, said: “The Markham Vale site and the Seymour Link Road specifically are identified as a key priority in our Strategic Economic Plan.

“Markham Vale sits at the northern gateway to the D2N2 LEP area. Linking it to the national road network, via the M1, gives the whole Enterprise Zone site the potential to eventually create up to 4,100 new jobs; which is why we and our partners, the Sheffield City Region LEP and Derbyshire County Council, are making this significant investment.”

Councillor Dean Collins – Derbyshire County Council’s Cabinet Member for Highways, Transport and Infrastructure – said: “We’re delighted to be moving forward with the construction of the Seymour Link Road, which could eventually lead to 4,100 new jobs on the site.

“We’re committed to building a strong economy that creates jobs for local people and helps businesses grow. This latest development for Markham Vale is a great step in the right direction for the site.

“The Seymour Link Road is due to be completed by August next year which will follow on from the expected completion of the new distribution centre for the Great Bear Distribution company, Markham’s biggest deal to date.”

The Duke of Devonshire has praised the University of Derby for rescuing one of Chesterfield’s best-loved buildings.

Generations of Chesterfield women owe their start in life to an education at the former St Helena’s Grammar School on Sheffield Road, which will open as the University’s new campus in September 2016.

The Duke, who is the University’s Chancellor, said: “What a rescue. It is very, very exciting. It’s immensely worthwhile and will be great for the University and Chesterfield,”

The Duke had a tour of the Victorian red-brick building, whose light and airy corridors and classrooms provided a pioneering design for schools which was widely admired across Europe and America.

The Duke’s, ancestor, the ninth Duke, officially opened the building in 1911.

The Duke heard how the University’s Nursing courses, run in collaboration with Chesterfield Royal Hospital, will move into the listed building, complete with a mock ward containing robot or “sim” patients that simulate human responses to treatment.

There will also be Engineering and Computing classes, plus a suite of offices which will be used as business incubator units for the town’s entrepreneurs.

Most of the original features and lay-outs will be retained, although the former indoor netball court will become the main entrance. The only part of the existing building which is in need of demolition is a small extension built in the 1960s.

“The way it is going to be modernised while keeping the best of the old seems to be very much the way in which the University maximised the benefit of the Devonshire Dome at Buxton,” the Duke added.

The University has been training local people to work in Nursing and Health Care for many years. The NHS has found that training people locally means they are more likely to stay in their home town, which has meant Chesterfield Royal Hospital has retained excellent, local staff.

This emphasis on training for local people will not only help to meet demand for highly-trained workers, but also keep their spending power within the Chesterfield economy.

Read about the development in Chesterfield