Commercial property investor acquires 14-acre industrial site
A 14-acre site in Hull has been sold to an investor in a multi-million pound deal.
The 5.75 hectares Century Yard site is opposite Green Port Hull on Hedon Road, where Siemens, alongside Associated British Ports (ABP) and Hull City Council, have invested more than £300m.
Commercial property specialist, Garness Jones, has overseen the deal, which has seen the industrial site sold to BVG Property Investments.
Managing director David Garness said: “This has been a very pleasing deal to be involved with at Garness Jones as it is rare for the freehold of a site of this size, in a location of such strategic importance to the region with regards to its proximity to the dock facilities, Green Port Hull and other major businesses, to become available on the market.
“Having gone to market an excellent price was secured for the vendor, and it really is a land of opportunity for BVG Property Investments, an expanding commercial property company who now have this site which has more than seven acres still undeveloped.”
BVG Property Investments has also instructed Garness Jones to act for it in an advisory role to help develop the site.
David Garness
Garness added: “We are pleased that the new owners have asked us to work in partnership with them moving forward to make sure their investment is maximized, along with providing support on a number of other property projects.
“Not only have they purchased a site which is already home to a number of businesses and generating excellent rental income from tenants, but one which is at the nerve centre of many growing industries in our region.
“It is a prime spot to attract businesses looking at what is happening in Hull and the East Riding and considering investing in the region, at a time when we are set to benefit from further growth as a result of the recently agreed £400m devolution deal.”
