Clearbell Property Partners III LP (Clearbell), a fund managed by Clearbell Capital LLP, today announces that it has secured the planning permissions needed to start work on a new mixed-use business park in Maidstone, Kent.

The £47million scheme, which was approved last week by Maidstone Borough Council’s planning committee, aims to provide 489,000 sq ft of mixed-use space for local businesses. Clearbell will begin construction of the site infrastructure and landscaping later this year.

The site is located just off Junction 8 of the M20, within easy reach of London and the South East. Clearbell purchased the greenfield site in June 2019 as part of its existing portfolio of multi-let industrial (MLI) assets, to meet increasing demand for industrial and logistics assets in the supply-constrained market.

Nick Berry, Partner of Clearbell Capital LLP and the Development Manager for the site, said:

“We are delighted with the decisions taken by Maidstone Borough Council, which will help us to provide high-quality, flexible and sustainable space for business tenants in the local area.

Industrial and logistics assets continue to be in high demand, particularly in the South East, and we only see this trend accelerating in the future.”

The plans have sought to prioritise ESG concerns for the new site. Once constructed, the larger buildings will be carbon neutral, while the site will also provide 42 acres of new habitat, including nearly 12,000 trees and six wildlife ponds. There will also be electric vehicle charging points for both cars and commercial vehicles.