A 'watching brief' on East Midlands Freeport commercial opportunities

Thu 28 Jul 2022

Shouler & Son confirms it retains its watching brief on behalf of clients for commercial opportunities as the development of the proposed sites for the East Midlands Freeport (EMF) takes shape.

This confirmation from the Melton Mowbray-based land and property firm follows a number of recent announcements by promoters of the freeport which, after successfully bidding for central government support last year (March 2021), will be the country’s only inland freeport.

Earlier this month (21 July), EMF invited expressions of interest from businesses interested in operating customs sites.

This followed news last month (17 June) of SEGRO’s environmental impact assessment scoping report, ahead of submitting an application for a logistics and industrial park on 247 acres of arable land south of East Midlands Airport.

While the freeport corridor site encompasses sites across Derbyshire and Nottinghamshire, public and private sector partners with statutory and private interests in Leicestershire are part of the EMF’s satellite area.

Harry Baines, Head of Commercial, Shouler & Son, is leading the firm’s brief across EMF opportunities for its land & property clients.

Speaking specifically about commercial development spin-off opportunities that might affect non-specific EMF locations, he said recently, “The extent to which proposed sites in the freeport area will lift commercial land values and market rents in neighbouring East Midlands locations is difficult to accurately forecast until there is firmer detail about the scope of unit sizes and use-class types.

“We are cautiously optimistic for the long term and continue to factor in the development of the EMF in advising clients with relevant land & property business interests.”