Tuesday, January 23, 2024
Mantle buys Ely site for £60m mixed-use development
Mantle, the Stansted-based investment and development company, along with a private joint venture partner, has purchased a 32.25 acre site at Angel Drove in Ely, Cambridgeshire for a £60m mixed-use scheme.
The site was purchased for in excess of £4m from Berkeley Commercial, advised by Savills, with existing planning consent for 385,570 sq ft of employment use, with 1,430 car parking spaces.
Mantle plans to update the planning permission to include uses more suited towards current requirements with the aim of starting on site early in 2007.
Russell Tame, development director of Mantle, comments: "This is an important site for Ely in terms of its potential for employment use, and it will be instrumental in providing a large number of jobs for the area."
Scott Tyler of Savills comments: "This is one of the last business park opportunities in the area, and has great potential for a mixed-use development."
ASW and Lambert Smith Hampton advised Mantle.
The site was purchased for in excess of £4m from Berkeley Commercial, advised by Savills, with existing planning consent for 385,570 sq ft of employment use, with 1,430 car parking spaces.
Mantle plans to update the planning permission to include uses more suited towards current requirements with the aim of starting on site early in 2007.
Russell Tame, development director of Mantle, comments: "This is an important site for Ely in terms of its potential for employment use, and it will be instrumental in providing a large number of jobs for the area."
Scott Tyler of Savills comments: "This is one of the last business park opportunities in the area, and has great potential for a mixed-use development."
ASW and Lambert Smith Hampton advised Mantle.
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