Business park plan ‘reflects realities’ – Prosser
TURNING over part of a business park for housing development reflects economic realities and the development of enterprise zones, according to St Modwen regional director Stephen Prosser.
St Modwen is developing plans that will see between 50 and 60 acres of the Melton Park site in Hull used for housing.
The Humber Local Enterprise Partnership last year secured permission to develop the country’s biggest enterprise zone which will focus on attracting wind turbine manufacturers and the associated supply chain by offering benefits such as reduced business rates.
Mr Prosser told TheBusinessDesk.com: “In that particular area there is an over supply of land for commercial development and also what we have looked at is there is a shift in where development takes place which is towards the port.
“That means certain areas are getting preferential treatment such as enterprise zone status and that means commercial activity will be drawn to those locations. That leaves sites like Melton in a difficult position.”
Mr Prosser was speaking after St Modwen announced an increased in pre-tax profits of 34%.
It recently started work on the £5m development of the former Tyco Electronics Factory in Doncaster and Mr Prosser admitted the company had been frustrated at delays in securing planning permission for the plans which were unveiled in May last year.
He highlighted the completion of the refurbishment of the now fully let Parkside Industrial Estate, also in Doncaster, as one of the major achievements of the last year.
