Boosted by the increased activity in the property market one Yorkshire developer has revived its acquisitions campaign with the purchase of a three-acre brownfield site near Wakefield.
Leeds-based Gregory Property Group (GPG) confirmed the deal for the Ossett site close to the M1 motorway is one of a number the company is negotiating as it renews its interests across all property sectors. “We see this as a good opportunity to regenerate a disused brownfield site to provide modern warehousing at a stage when demand is clearly improving,”said director Richard Tovey.
The site has outline planning permission for a 50,000sq ft warehouse scheme. The developer has now submitted plans for three buildings of 8,000sq ft, 10,000sq ft, and 30,000sq ft with all the units containing integral offices, parking and yard space.
“Ossett has traditionally been a popular location for occupiers with its excellent transport links and labour force,”added Tovey, who said GPG would rename the site “Milner 40”. It also intends to offer design and build packages for tenants on a freehold or leasehold basis.
Earlier this year the group secured a forward sale to an unnamed offshore trust on its hotel and gym development in Harrogate town centre. Demolition and ground work on the Tower Street project is currently underway.
GPG bought the near-derelict former bowling alley in 2011 and gained planning approval to redevelop the site. It then negotiated a 25-year lease with Travelodge to operate a 70-bed hotel and a 15-year lease with Pure Gym to takeover 16,900sq. ft on the ground floor and basement.
“It took a lot of effort to secure planning approval due to conservation area sensitivities, but our proposal is a successful example of how a disused and redundant site can be transformed to deliver much needed facilities for the local community,”said Tovey.
Since its 1985 launch, GPG has developed or gained planning consent on more than three-million square feet of commercial schemes in the North of England, either independently or as joint ventures. Its portfolio includes the £40m mixed-use scheme at Broad Street Plaza in Halifax — awarded “Best Commercial Development” at the 2012 Yorkshire Property Awards —and the £40m Foss Islands retail park in York.
