First tenant at new business park signs up for 50,000 st ft warehouse
A supplier of polythene and film products has purchased a speculative 50,000 sq ft distribution warehouse for £4.5m, which will be the first building constructed on a new business park offering 1.25m sq ft of space.
Yorkshire property company, Glentrool Estates Group, has pre-sold the premises at Sherburn2 business park at Sherburn-in-Elmet, near Leeds.
The bespoke facility is being purchased for £4.5m by Cromwell Polythene, a leading supplier of recycled polythene and compostable film products, to cater for a growing business.
James Lee, managing director, said: “This is a sound investment for us. We have outgrown our current premises in Sherburn and were looking for a larger building close by. The exciting Sherburn2 development next door is just perfect, allowing us to remain in a superb business and logistics location while creating new premises to suit our needs.
“We currently employ 33 people. Our move will double our warehouse capacity, allowing us to create many more new jobs and to continue expanding our operations. In the short to medium term we hope this will create another 7 jobs. Once we’ve fully grown into the site we believe we could support somewhere in the region of 50 employees.
“We are looking forward to moving to Sherburn2 in Spring 2019 and being part of the largest new employment site in the Selby District in the last 15 years.”
Glentrool Estates is transforming the 75-acre site at Junction 42 of the A1(M) into a business and employment park. The £105m development has the capacity to create 2,250 sustainable jobs.
Jeremy Nolan, a director of Glentrool, said: “Securing our first customer at Sherburn2 is really significant. It is a clear vote of confidence for our development and demonstrates we are up and running. We are delighted to welcome Cromwell Polythene Ltd, a flourishing local family-run business, to Sherburn2.
“We have worked closely with Cromwell over the past few months to ensure their building is perfect for their business and provides a platform for growth for a secure and successful future.
Cromwell’s facility will feature wrap-around offices at the gateway to Sherburn2. Construction of the flagship building is due to commence in October with completion in the spring of 2019.
Jeremy Nolan explained: “Until such time as we have a building and our first customer, we only have a field with planning permission. It is not a development. The Cromwell deal is pivotal as this demonstrates certainty of delivery for the other customers with whom we are currently working.
“The first phase of infrastructure is complete, with the second phase due for completion prior to occupation of Cromwell’s building. The total infrastructure will cost of £4.5 million once complete with an additional £65 to £70m to be spent on building construction. We have secured planning for 1.25m sq ft to deliver manufacturing and distribution warehouses from 35,000sq ft 1,000,000sq ft.
“A funding package for the finance of the construction has been secured which will facilitate the rapid delivery of bespoke buildings on a design and build basis.
The Leader of Selby District Council, Cllr Mark Crane, added: “Sherburn2 is a great opportunity for our district, and businesses locating there will be able to benefit from the things that make our area a great place to do business. Situated right in the heart of Yorkshire with easy links to the national road and rail network, with a skilled local workforce, we know this new business space will appeal to range of different business types.”
The sole marketing agents for Sherburn2 are the Leeds office of Colliers International.
