Funding agreement to help deliver 260,000 sq ft industrial property
Work is set to begin on a 260,000 sq ft industrial unit at Wakefield Hub, following a forward funding deal and land sale with Aberdeen Standard.
The deal will see work begin within weeks on the new unit, which will be occupied by a German pharmaceutical company.
Wakefield Hub is a 200-acre industrial and logistics development being delivered by Newmarket Lane Ltd; a joint venture partnership between HBD and Yorkcourt.
One of the largest regeneration projects of its kind in the North of England, it is expected to create hundreds of new jobs.
The scheme is the third to be built at Wakefield Hub, following a 65,000 sq ft unit for Kitwave which is due to complete in February 2022, and a two million sq ft building being brought forward by Mountpark.
Simon Ross, senior development surveyor at HBD, said: “We’re pleased to have concluded these latest deals and look forward to seeing further work starting on site.
“It’s great to see the scheme now beginning to take shape – the development will add huge value to the city and its local economy, creating new jobs and attracting new investment.”
Scott Mackie, director at Yorkcourt, added: “Wakefield Hub is one of the best locations for industrial and logistics operators in the North – the high build quality on offer and the shortage of industrial and logistics space across the region has driven strong interest in the development.”
Infrastructure and enabling works continues to progress at Wakefield Hub, including the completion of a new highway to create a new link road from east to west.