Property in brief: Thorp Arch; JLL; Carter Towler; Orion Office Express

WORK has started on the speculative refurbishment of two empty buildings which were once part of a wartime munitions factory at Thorp Arch Estate near Wetherby to create six small business units.

Estate owners, Rockspring Hanover Property Unit, London, has given the go ahead for the refurbishment of units 710 and 715 which have been empty for five years and ten years respectively.

The refurbishment, which will cost around £600,000, is due to be completed in July and will create industrial units ranging from 1,159 sq ft to 2,539 sq ft. Rockspring decided to undertake the speculative scheme after the success of renovating units 713 and 726 which were fully occupied within weeks of completion last autumn.

Director of Wharfedale Property Management, which manages the estate, Tim Munns, said: “Small businesses are crucial to the UK’s economic growth and stability but they need modern, efficient premises to thrive. We’re pleased to be refurbishing these buildings, as part of the modernisation of the estate, for small enterprises in this part of the region.”

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TWO new occupiers have signed for warehouse space at Overland Park in Leeds in deals negotiated by property consultants JLL and Carter Towler.

The 5,260 sq ft unit 6 has been let to Leodis Stairlifts while unit 8, comprising 10,075 sq ft, has been let to electrical retailer Power EC.

These latest deals, agreed with landlord CBRE Global Investors, leave just one remaining unit of 6,600 sq ft.

Tom Asher, associate director in JLL’s Leeds office, said: “These latest lettings reflect improving economic conditions and increasing business confidence with both occupiers expanding their operations in Yorkshire.

“Recently refurbished, Overland Park is in a superb location and has proven to be a popular choice with businesses over the years with just one available unit remaining.”

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AS a result of high demand at its Benton Office Park in Horbury, where 24 of the 25 existing suites are now let, Orion Office Express has decided to create and release additional business space which will be ready for occupation later this month.

The development off Bennett Avenue was designed for start-up companies but has also proved popular with established businesses.

Further suites are currently being fully refurbished to provide flexible configurations in sizes ranging from 136 sq ft to 457sq ft.

Jo Lumb of Orion Office Express said: “Tenancies are available from as little as six months and we keep start-up costs low to encourage small, home-based businesses to take the plunge and escape that sense of isolation by becoming part of a community of like-minded companies, where they can network and share knowledge, ideas and contacts.

“Our lettings activity has been brisk for some time and it speaks volumes that, when their success demands larger space, tenants choose to stay with us rather than relocate. We have a flexible approach to lettings – if a business outgrows its original office space before the end of the lease period we look to accommodate the tenant in a larger suite whenever possible.”