The Nottinghamshire-based logistics developer is readying plans for a 367,000 sq ft industrial unit, having bought part of the 120-acre Foxdenton site from FO Developments for an undisclosed sum.
FO Developments, a joint venture between Seddon Developments, Grasscroft Developments and Oldham Council, owns the wider site off the A663 southwest of Oldham town centre.
Overall, Broadway Green has outline planning approval for 715,393 sq ft of employment space, and Rula Developments’ £50m speculative scheme would be the largest individual unit at the site.
The shed is targeted for occupation next year subject to planning approval from Oldham Council, and the scheme could create up to 450 jobs once complete, according to the developer.
A 500-home residential development by Redrow and a 20-acre linear park form part of the wider plans for Broadway Green.
In 2018, the North West Evergreen Fund provided £12.5m towards a link road and infrastructure designed to unlock the site for development.
Ben Ward, managing director of Rula, said: “Demand is high for employment space in the right place, and so we are working with our funding partners in order to secure planning and build this speculatively.”
Jamie Seddon, managing director of Seddon Developments – part of FO Developments – said the land sale marked a “major milestone” for the Broadway Green development.
Rula Developments will now submit a reserved matters planning application to Oldham Council.