Major North Yorkshire commerical opportunity comes to market
A SIGNIFICANT residential and commercial site in North Yorkshire has come on the market.
The 16.5 acre site in Catterick Road, Colburn, North Yorkshire, has a resolution to grant planning permission for 258 homes, as well as around 25,000 sq ft of commercial buildings, including retail, offices, a restaurant or café and crèche. GVA, the commercial property consultancy, has been appointed to market the site.
House builder Taylor Wimpey is currently building 272 houses at Woodside Chase – a scheme located on land opposite the Catterick Road site.
Located two miles from the centre of Catterick Garrison and four miles from the market town of Richmond, the freehold of the second phase of the Colburndale scheme is being sold by a private vendor by informal tender.
Dai Powell, associate in the planning, development and regeneration team at GVA in Leeds, said the development of Woodside Chase proved the growing requirement and demand for housing in the area.
“The sale of Colburndale Phase Two provides a significant opportunity to acquire a substantial residential-led development site in one of North Yorkshire’s fastest-growing housing markets,” Mr Powell said.
He added that the housing scheme was important as the Ministry Of Defence continues to place strategic importance on Catterick Garrison, Europe’s largest garrison town.
Under new Army structures, Catterick Garrison will be the focus of one of five multi-role brigades, each comprising around 6,000 troops and 15,000 dependants.
“Under the new arrangements, military personnel will be encouraged to spend most of their military careers in one broad location and as such, those in Catterick Garrison or posted there are increasingly likely to put down roots and eventually purchase homes,” said Mr Powell.
“Broadly speaking, this is likely to create an increased latent demand for housing in and around the settlement.
“Catterick Garrison is planned to be the fastest growing town in this part of North Yorkshire over the coming years.”
