150,000 sq ft speculative distribution scheme completes

Gregory Property Group has completed a speculative development of Park 32, a 150,000 sq ft production and distribution project close to Junction 32 of the M62 motorway between Castleford and Pontefract.

Marshall Construction built the £15m development, just opposite Pontefract Racecourse, ahead of schedule and Gregory has already agreed terms for a sale of the first unit.

Park 32 comprises four purpose-built units ranging from 12,000 sq ft up to 82,500 sq ft to suit a variety of occupiers for distribution, industrial and storage.

The development is in an established location adjacent to Park Side Retail Park where occupiers include Wickes, Currys, PC World, Halfords and McDonald’s.  Travis Perkins already occupies an adjoining unit and the former Prince of Wales Colliery is under redevelopment.

Andrew Foggitt of Gregory Property Group said: “We are pleased to complete the development of Park 32 which delivers against a current shortage of new, purpose-built commercial space within the M62 corridor.  The vicinity of Junction 32 is attracting significant investment by leading funds and we are confident that the option to buy our units will attract occupiers seeking investment value in their premises.  One of the units is already under offer with interest in the others from a range of occupiers both local and national.”

The Leeds offices of property consultancies Avison Young and Carter Towler have been appointed to market the scheme.

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