Lettings agreed for trio of newly built industrial units
The first phase of a £1.4m York Business Park industrial scheme is now fully occupied.
Evans Property Group has let all of phase one at its Quad development, within just three months of practical completion.
It has concluded lettings on all three recently developed units to Network Rail and European micro-mobility operator, TIER Operations Ltd with a fourth unit set to complete in the summer.
The 4,225 sq ft Unit 1 has been let to TIER to help service its year-long agreement with York City Council to provide an e-scooter trial on the streets of York.
Units 2 and 3, comprising 3,650 sq ft and 3,250 sq ft respectively, are let to Network Rail on a five-year term. Each unit contains integral office accommodation, secure parking and a fenced yard area.
The Quad scheme, which was completed by contractor CBM Construction in September 2020, was developed to deliver high quality industrial/warehouse accommodation to the regional pipeline at a time when demand outweighs current supply.
Located on Great North Way, the main estate road within the established York Business Park, the units are three miles from York City Centre and front onto the York outer ring road and the A64.
Evans has secured planning consent for an additional 5,250 sq ft Unit 4 at Quad and CBM Construction has started work with completion scheduled for summer 2021.
Joint agents Flanagan James and Savills are marketing the unit to potential occupiers.
Richard Bean, senior asset manager for Evans Property Group, said: “To have achieved full occupation of all three developed units at Quad within just 12 weeks of completion is a fantastic result.
“We are delighted to be able to assist TIER with accommodation to service its York e-scooter trial and to be welcoming National Rail on board to two units.
“The success of phase one has enabled us to commence works on the next unit and our agents are currently handing interest in Unit 4.”
Richard Flanagan, director at Flanagan James, added: “The industrial market in York is reflective of the wider national picture, where demand for all unit sizes is high and good quality units are in short supply.
“To have concluded deals on three units within three months at Quad demonstrates the quality of product and appeal of the strategic location and we are confident in securing a fourth occupier for the final unit which is currently under construction.”