Patrick Properties, which was set up by Kennedy in 2002, has been granted detailed planning permission for Graphite - a 345,000 sq ft industrial site on Woolley Bridge Road in Hadfield, Glossop.
The company says it plans to build larger speculative industrial and distribution units up to 180,000 sq ft.
Andrew Dickman, director of Patrick Properties said: "This is an important scheme for Glossop which hasn't seen a development of this magnitude for a long time. We have already received an encouraging amount of interest from prospective tenants, which has convinced us to progress with the speculative construction of the first phase.
"Furthermore, we have already progressed two enquiries into legal hands and are currently in negotiations with a number of other interested parties."
Ruth Leighton of joint letting agents GVA Grimley said: "We are confident that these new units will appeal to a wide range of potential tenants due to their high specification and strategic location on the M67 corridor.
Invested
"By providing both speculative and bespoke units we are able to cater for almost all requirements on both a leasehold and freehold basis."
Work on phase one is due to start in January and complete by the beginning of July. GVA Grimley and WHR Property Consultants are joint letting agents.
Patrick Properties has also invested in Crewe and elsewhere in the north west since it was created two years ago.
The company has been part of Kennedy's strategy to diversify his business. The latest deals follow the sale last year of the Everest double-glazing business for '63m.
Manchester property is fast turning into a rich man's game.
Matalan boss John Hargreaves and bookmaking brothers Fred and Peter Done have also invested their wealth in the local property market.
Former Swinton Insurance owner Brian Scowcroft - who has since invested heavily property in Stockport and Cumbria - is said to be worth '163m.
According to a survey published this month, the north west's ten richest property barons are worth an astonishing '2.9bn between them. Tweet
Comments
Login or Register to comment
It just goes to show that big money invesment from the likes of brian scowcroft and kennedy really dose work thay put there money were there mouth is and make a comitment to the bitter end,ok so they get richer but the avrage man is kept in work these men should be runing the country we would all benerfit im sure.
Where could I get an email address for Brian Kennedy? I would like a word .