Warehouse plans for East Yorkshire

By Liza Helps Property Editor Logistics Matters

THE DEVELOPER said the project, on a 23.5-acre site has a potential £37.5 million GDV, and would deliver 403,500 ft2 of new business space, expanding on a market established by existing business parks including Horncastle’s Green Park.

CBRE has provided market advice for the project.

Lovel said the project will also reflect the priorities set out in the revised National Planning Policy Framework and the East Riding Strategy and Local Plan Update.

Lovel Development CEO Philip Lovel said “The proposals here are for a high quality expansion of the existing employment area at junction 38, providing new, additional, modern floorspace and creating many new jobs the project will also reflect the priorities set out in the revised National Planning Policy Framework and the East Riding Strategy and Local Plan Update, and particularly the desire to promote and safeguard sustainable economic growth and jobs.”

Demand is expected from sectors including light industrial, general industry and storage and distribution.

He added: “In the East Riding there’s a strong need and market demand for employment land to accommodate predicted growth and meet occupier requirements in key sectors such as renewable energy, manufacturing and engineering, agriculture, food and drink and many more.”