A regional investor has swooped for the latest addition to a Grimsby gateway site, just weeks after it was fully opened.
The Costa and Subway development on Birchin Way is the final part of a two-decade jigsaw that has seen the former Stones brewery depot site put to new use.
Brought forward by Quay West Grimsby LLP, it is now home to Humberside Police’s South Bank Custody Suite, as well as Wickes, McDonald’s and KFC.
A private investor has taken the final element in an undisclosed deal, with Costa and a Subway franchisee as tenants.
Carl Bradley, director at Clark Weightman, has acted throughout, having taken instruction from Bass initially, before the investors acquired the 7.3 acre site, retaining the pan-Humber property agent.
“This was the last piece of the Birchin Way jigsaw puzzle. There were pre-let agreements with Costa and Subway, and it was always the developers’ intention to sell the investment on," he said.
“What it does demonstrate is that commercial property continues to be seen by many to be an attractive place to invest, given the relatively poor returns on cash in the bank.”
The dual unit entered construction last summer, completing in April.
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Original inhabitants McDonald’s and KFC arrived in 2001, with the large distribution buildings pulled down in 2007, with a cinema, hotel and pub complex all proposed.
Wickes’ expansion from Alexandra Retail Park across the West Marsh, emerged in 2013, completing in 2015, with Humberside Police’s £14 million South Bank Custody Suite the most recent addition, opening for ‘business’ in early 2019.