Gregory Property Group has secured detailed planning consent to develop an 11-acre brownfield site less than one mile from Junction 32 of the M62 motorway near Wakefield, West Yorkshire.
The Leeds based developer has announced that it plans to speculatively build 150,100 sq ft of production and distribution space this year on a prominent site located just opposite Pontefract Racecourse.
‘Park 32’ is to offer four new units ranging from 12,000 sq ft up to 82,500 sq ft to suit a variety of occupiers such as trade counter, manufacturing and distribution. The development is in an established location adjacent to Park Side Retail Park which includes Wickes, Currys, PC World, Halfords and McDonald’s. Travis Perkins already occupies a unit within the development.
Barry Gregory of Gregory Property Group said,“There is a clear lack of new, purpose built commercial space within the M62 corridor and the market indicates that demand is outstripping supply. We are confident that speculative build units on this prime site will engender good levels of interest from occupiers.
“The area is already undergoing major improvements with the former Prince of Wales Colliery under development and the vicinity of Junction 32 is attracting significant investment by leading funds”.
The Leeds office of leading property consultancy GVA http://www.gva.co.uk/ has been appointed to market the scheme. Director Rob Oliver said:
“Park 32 is an exciting scheme that will bring much needed production and distribution space to this part of the local market. It’s close proximity to the M62 and A1(M) gives us great confidence that it will be well received and indeed we are in discussions with potential occupiers already. We are offering units of various sizes for the mid-range market with an excellent specification available on a leasehold basis.”
The site is located just off Junction 32 of the M62, where popular attractions include Xscape and Junction 32 Outlet Shopping Village. The new Axiom retail park and community stadium for Castleford Tigers is also proposed for the area for delivery by 2021.