One development that epitomises
the strength of the regional
market is Sterling Capitol’s
Capitol Park at Leeds where
three major occupiers have
signed new leases.
These are NHS Shared Business
Services, Hermes and DePuy
International who, between them,
took a total of 13,006 sq.metres
.) in deals brokered
by Knight Frank.
Richard Clark of Knight Frank said:
“Capitol ticks all the boxes. It is next
to the M62 and within five minutes
of the M1, so it has access to
Yorkshire’s superb motorway network”.
In the city centre, it is significant
that a global media agency like
Dentsu Aegis Network has taken
1,255 sq.metres (13,509sq.ft.
6EP, which is the largest refurbished
office property in Leeds at
3,901 sq.metres (42,000sq.ft.
This is a joint venture of Bridges
Ventures and Evanacre.
Alex Hailey of letting agent CBRE
said: “The redevelopment of 6EP, a
strategically located building in the
heart of the business district, is an
important addition to the Leeds
market at an opportune time”.
In another deal, CBRE has let
further space at 8 Park Row to the
global digital media company,
Perform, giving it a total of
1,486 sq.metres (16,000sq.ft.
It is heartening to see that
manufacturing features in new
developments in the region,
such as the scheme at the
165 acre Temple Green in the
Aire Valley by Evans Property
Group and Harworth Estates.
After a £7 million investment in
infrastructure, roads are open in what
is claimed to be the largest advanced
manufacturing and logistics site
in the north. It will have
241,540 sq.metres (2.6 millionsq.ft.
of space and is in the Leeds City
Region Enterprise Zone.
The marketing of the park has
been stepped up this year with the
appointment of CBRE and Gent Visick
to join Dove Haigh Phillips as agents.
Unfortunately, the industrial
picture is not totally rosy because
Brexit is playing a part by bringing
uncertainty, as illustrated by Burberry
postponing the construction of a new
£50 million trenchcoat factory at the
South Bank Leeds.
Doncaster has a distinct advantage
in the national distribution
network through its location in
south Yorkshire with easy access
to the motorway system and the
main urban areas of the north
So, it should be no surprise
that Amazon should go for a
102,190 sq.metres (1.1 millionsq.ft
facility at Verdion’s iPort. This is a
major scheme on a 335 acre site
with the potential for a further
557,400 sq.metres (6 millionsq.ft
This is just another peg in the
board of Amazon’s march across the
UK to give it a dominant position in
e-retailing and it now has 12 UK
hubs. Even more startling is that
Amazon accounted for 26% of the
UK industrial lettings in the final
quarter of last year.
The success of Doncaster extends
to SMEs where Bullrush Business
Park, developed by Carnell
Management Services, has recently
attracted four new tenants, the
latest being Fabb Projects who took
a 1,115 sq.metres (12,000sq.ft
unit, leaving just two units empty.
Rebecca Schofield of Knight Frank,
joint letting agent with PPH
Commercial, said: “We now have a
vibrant business park populated by
small and medium sized businesses”.
Elsewhere in south Yorkshire,
Helical Bar is to expand the
Cortonwood Shopping Park at
Rotherham with an 11,148 sq.metres
.) extension to be
built by Finnegan. Clearly it is an
attractive location because Helical
Bar has pre lets on 10 of the
11 units, all of them taken by
retailers that are new to the area.
Adam Russell of Helical Bar said:
“By attracting new retailers to the
area the scheme is bringing
significant capital investment and new
jobs in addition to adding to the
vibrancy of the retail destination”.
Obviously retail parks are a
major part of the south Yorkshire
shopping scene because the last
remaining units at the Onyx
Retail Park on the site of the
former Manvers Colliery at
Watch-upon-Deane, have been let.
The park was built by Onward
Commercial Property Register
November 2016 - May 2017www.compropregister.com
There is a solidity to the
performance of the commercial
property market in the region
with early indications of it
shrugging off the effect of
the Brexit vote.
To be fair, it is early days yet for
the trauma of leaving the EU with
negotiations spread over a number
of years (how many?). All the same,
Yorkshire has the ability to makes its
own decisions and think outside the box. That may come from a real
pride in Yorkshire.
That passion for the county was shown in bucketloads at this year’s
Olympics when its athletes won so many medals.
Of course, it has some natural advantages such as a fine motorway
network and well established towns and cities that have a history of real
The numbers indicate a positive market, whether it is city centre
lettings in Leeds or out of town business parks but also includes new
office and industrial development. Hopefully, the early indications of
more manufacturing capacity will prove to be long lasting and help
counter leaving the EU.
Sheffield encapsulates the changes in the region as it steers away
from undue reliance on the public sector that guided its property market
for so many years. The prospect of a new HS2 station in the middle of the
city is significant at a time when the council has been emboldened to
push new development of offices and shops.
TO THE DON