Former Magnet site attracts buyers after redevelopment

THE transformation of the former Magnet factory site in Keighley has been completed with all five units sold within 12 months of the project starting.
Riverside Business Park is the result of a multi-million-pound redevelopment by Turner Developments of the 13-acre site, which had been empty for three years.
The site now has five self-contained units totaling 260,000 sq ft with 100,000 sq ft of yard space, and each site was sold at a rate of £35-£45 per sq ft.
The largest unit of 90,000 sq. ft. has been sold to manufacturer Stells Cardboard Tubes, while Cavalier Marketing has taken 60,000 sq ft for its bathroom and kitchen equipment distribution business.
Ilkley-based Spooner Industries has acquired 48,000 sq ft for its second site, while Dowsons Food Machinery and Advanced Couplings complete the site.
James Turner, managing director at Turner Developments said: “We had previously acquired the former Ponden Mill site adjacent and created Aireside Business Park which is now fully occupied employing around 200 people.
“The success of that park gave us great confidence to speculatively develop the old Magnet site and we are pleased to add further regeneration to the area with a scheme that is fully functional on completion.  We anticipated a three year project but unprecedented interest has allowed us to fast track our plans.”
Mike Atkinson of land and property consultancy Atkinson Associates, advising on the site, added: “The successful sale of all units at Riverside Business Park goes to demonstrate the strength of location with great access to the Aire Valley Trunk Road.”

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