Historic timber yard to become business homes
WORK has started on the first phase of a scheme to regenerate a former timber yard which served Hull docks into units for small businesses.
Time Developments has started demolition and infrastructure work on the one acre site at Merrick Street after securing development funding from Yorkshire Bank’s Hull-based East Yorkshire and Lincolnshire Financial Solutions Centre (FSC).
The Hull-based developer has acquired the site, which was a timber yard more than a century ago and has been derelict for many years, to create phase one of Merrick Business Park, after gaining planning permission from Hull City Council.
Phase one will see a former disused industrial building refurbished as 9,000 sq ft of premises which can be occupied by a single user or divided into three units of 3,000 sq ft each.
The units, scheduled to be complete by the end of the year, will be available for use as offices or for light industrial, distribution or storage businesses.
The development’s second phase, which is expected to start early next year and scheduled to complete next summer, will comprise six, 1,500 sq ft, new build units also for light industrial, distribution or storage uses. All the units will be available to purchase by occupiers or investors.
Jason Davies, a director at Time Developments, said: “We are pleased to have started work to regenerate this site and to be creating high-specification small business units which have been designed and priced to meet the needs of business owners who want to invest in property but struggle to find, or afford, appropriate premises in Hull.
“Securing funding from Yorkshire Bank’s East Yorkshire and Lincolnshire FSC has been an important element in this project and we are pleased that they are involved. We are making the units available for purchase, rather than lease, to help the small business occupiers have greater control over their future.”
Yorkshire Bank’s East Yorkshire and Lincolnshire FSC senior partner, Jamie Wheldon, said: “We are keen to support the regeneration of this former industrial site. This scheme will turn derelict land which has been an eyesore into a dynamic small business park which we expect to be very popular with enterprises in the business sectors for which it has been designed.”
