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Gregory Property Group
2 The Embankment, Sovereign Street
Leeds, LS1 4GP

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Ossett 40 low res

SPECULATIVE SCHEME DEVELOPMENT STARTS IN WAKEFIELD

20/05/2016

Gregory Property Group has started on site with the speculative development of two new industrial/warehouse properties at Ossett 40, located just off Junction 40 of the M1.

This is the first speculative commercial scheme of its size to progress in Ossett since before the economic downturn and signifies confidence from the private developer which has already pre-sold one of the units to local firm, Simpson Packaging and is receiving promising early interest in Units 2 and 3.

Gregory's secured planning consent last year to deliver 57,000 sq ft of new, high specification warehouse accommodation at Ossett 40. Construction is now underway on Unit 1, a 32,000 sq ft which was sold to Simpson Packaging and the two speculative units which extend to 12,100 and 12,600 sq ft respectively. The development is expected to be available for occupation from July this year.

Andrew Foggitt, Director at Gregory Property Group, said, "Ossett is a popular location for industrial occupiers because of its excellent transport links and labour force. Retaining Simpson Packaging in the local area with a new design and build unit is testament to that. We feel that that there is strong enough demand in the local area to speculatively develop and are committed to providing new opportunities for the local occupational market."

The Leeds offices of Bilfinger GVA and Gent Visick have been retained by Gregory Property Group to market the development.

Iain McPhail, associate at Bilfinger GVA said, "Ossett 40 will provide some of the first speculatively developed warehouse properties in the area since 2008 and offers occupiers an opportunity to acquire a high quality product on either freehold or leasehold terms".

Andrew Gent Director at Gent Visick said, "There is presently a distinct shortage of supply of modern Grade A warehouse accommodation in the area and in particular in the M1 corridor. Ossett 40 is hopefully the first of a series of new speculative developments which will address this issue."

Ossett 40 offers industrial/warehouse buildings with integral offices, parking and generous yards available on both freehold and leasehold terms.

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