Gregory Property Group has started development to deliver 150,100 sq ft of new production and distribution space, on an 11-acre brownfield site, close to Junction 32 of the M62 motorway between Castleford and Pontefract.
The local developer has agreed a building contract with Marshall Construction to deliver the £15m project on the prominent site which is just opposite Pontefract Racecourse. Completion is expected in Summer 2019.
‘Park 32’ comprises four new units ranging from 12,000 sq ft up to 82,500 sq ft to suit a variety of occupiers such as distribution, industrial and storage. 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 an adjoining unit and the former Prince of Wales Colliery is under redevelopment.
Andrew Foggitt of Gregory Property Group said:
“We are pleased to announce that Marshall Construction has been appointed to speculative build Park 32 for us with an immediate start on site. There is a clear lack of new, purpose built commercial space within the M62 corridor with demand currently outstripping supply. The vicinity of Junction 32 is attracting significant investment by leading funds and we are confident that speculative build units on this prime site will attract good levels of interest from occupiers.”
The Leeds offices of property consultancies GVA and Carter Towler have been appointed to let the scheme.
Rob Oliver, Director at GVA said:
“We are delighted to be appointed on such an important scheme on the M62 corridor. We have already been talking to various occupiers on a design and build basis, but with planning secured and the speculative nature of this development, occupiers can be confident of knowing exactly when they’d be able to move into their new unit.’
Park 32 is located less than one mile from Junction 32 of the M62 giving immediate access to the motorway network. Popular local 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.
