CRT Property Investments Ltd, the wholly owned subsidiary of the Coalfields Regeneration Trust, and its asset manager, Blue Marble Asset Management (Blue Marble), have helped a Nottinghamshire manufacturer of road, race and rally wheels expand into new premises.
Revolution Wheels International Ltd, already occupies Unit 2 and 3 and has now taken a new five-year lease on Unit 4; a 2,000 sq ft light industrial space at CRT Property Investments Ltd’s Eco Court business park in Ollerton.
CRT Property Investments Ltd acquired Eco Court as part of its acquisition of the 20,000 sq ft Sherwood Energy Village industrial estate in March 2016, and the company now has plans to develop a further 32,000 sq ft of new business space on Centric, a site opposite.
Property Investment and Development Director for CRT Property Investments Ltd, Shaun O’Brien, says: “We are very pleased to be supporting the expansion of a company that is based within one of our coalfield communities. Not only does this support our priorities for action, which include supporting employment, but it also proves that there are positive stories to share from former mining towns and villages.
“Sherwood Energy Village is an important development for us as we bring forward more commercial space in coalfield areas; those that most developers would traditionally avoid.”
Amy Haywood, Senior Property and Asset Manager at Blue Marble, says: “It is good to see local businesses thriving, with CRT Property Investments creating opportunities for more jobs.”
The Coalfields Regeneration Trust has shared plans for a £40m Coalfield Investment Proposition which would see government provide £30m and the organisation contribute £10m of its own resources. The fund would be used to develop new industrial space to support SME growth in former mining areas and on completion bring an estimated 1,000 jobs to the coalfields over the next five years.
As a result of these developments, over a 25-year period, the Coalfields Regeneration Trust would produce £50m in sustainable income which will be used to support social impact projects creating a wellbeing value of over £500m in the communities and a lasting legacy for the next generation.
An annual income stream of £2m would be directed into social impact projects in the communities, typically achieving the following outcomes; 400 people will be helped back into work; 800 people supported into volunteering; 5,000 people assisted with developing new skills and 8,000 people taking part in activities that improve health.