Leading Yorkshire business specialist Citivale, in conjunction LRE Capital, have let a high-quality 150,000 sq ft warehouse at Humber Enterprise Park in Brough to a major UK kitchen manufacturer and retailer.
This is the largest industrial letting within the Hull and East Riding area during the past 12 months. The kitchen retailer has signed a six-year lease with a three-year break.
The warehouse unit into which the retailer is moving has been recently refurbished and also includes office accommodation.
Humber Enterprise Park incorporates 1million sq ft of high-quality office and industrial space and 20 acres of development land. The site benefits from Enterprise Zone and Assisted Area Status, which offers incentives to attract new occupiers.
Citivale and LRE Capital formed LC Industrial was launched in 2015 to invest in the UK industrial sector.
James Appleton-Metcalfe, managing director of Citivale said: “Our competitive rents and unrivalled working environment are proving attractive to a whole raft of different occupiers.
It is immensely gratifying to conclude such a large letting to a well-known household name and a leader in their field.
“This is tremendous news for Humber Enterprise Park and brings our industrial accommodation to 100% occupancy. This latest letting completes over 550,000 sq ft of industrial transactions carried out by Citivale at HEP since purchase. This is testament to our ability to deliver on larger refurbishment and development projects.
“We are very proud of what we have achieved here so far. The high quality of the refurbished buildings, the enterprise zone incentives and the park’s excellent location, with superb road and rail access close by, is proving to be a winning combination.”
PPH Commercial Director Ben Medhurst, who concluded the letting on behalf of the landlord Citivale Limited, commented: “We were delighted to be able to complete the largest industrial letting within the Hull and East Riding area in 2018.
“It is especially pleasing that a well-established and growing national business has taken the 150,000 sq ft of storage and distribution space at Humber Enterprise Park. The location was an obvious choice given the easy access and low occupational costs that the site offers,” said Mr Medhurst.
So far £6million has been spent on regenerating the whole site, described as “a jewel in the Humber’s crown” with another £1.2 million earmarked for further improvements. It is estimated that 1,600 new and sustainable jobs will be created when the park is fully developed during the next three years.
James Appleton-Metcalfe added: “LRE Capital and ourselves are keenly aware that our park should not just be a place to work, but also a proper community where to life can be enjoyed. So we are creating a running track on the perimeter of the site; a heritage museum, paying tribute to the rich history of aircraft manufacturing here; green spaces and allotments; break-out areas and spaces for art; and a fitness suite.”