A development that could provide the space to create 400 new jobs is underway in West Yorkshire.
The second phase of Moor Park 25, a major commercial development with enterprise zone status in Mirfield, just off the M62 has begun.
Two county companies have united to deliver the project, with a £12.5 million boost to the local economy eyed.
Caddick Developments has completed a forward sale of all five units to AAA Property Group, who also purchased the first phase Incora building as part of their expansion into the industrial and logistics sector.
The 15-acre site, in the town located between Dewsbury and Huddersfield, will be built out by Caddick Construction, with completion anticipated in quarter three.
Myles Hartley, managing director of Caddick Developments, said: “At a time when the industrial and logistics market is going from strength to strength, we’re confident that the second phase of Moor Park 25 will go some way to meeting growing occupier demand.
“Interest in the site is high and talks have already commenced with businesses looking to expand.
“This major development will provide a significant boost to the local economy and create hundreds of jobs, which will further support the economic recovery of the local area.
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“We’re delighted to be partnering with fellow Yorkshire based AAA Property Group to deliver this much-needed scheme. This forms part of a wider pipeline of industrial and logistics projects totalling more than 16 million sq ft which Caddick Group will be bringing forward of the coming years.”
Located close to Junction 25 of the M62, the buildings will range from 19,500 to 59,000 sq ft, providing a total 180,000 sq ft of versatile new logistics and commercial space. The project will be developed speculatively, with work accelerated due to an increase in demand for properties.
Anil Chima, director of AAA Property Group, said: “As the proud owners of unit one at Moor Park 25, we’re delighted to be investing further in this landmark scheme which is set to deliver much-needed industrial space for the region.
“Yorkshire is our home, and we’re especially pleased to be investing in a project which will boost the region’s economic activity and create local jobs, as the community looks to bounce back from the Covid-19 pandemic.
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“Working closely with Caddick Group, we will draw upon the experience and knowledge of both organisations to deliver the scheme in full.”
As reported, planning permission for phase two was granted last summer. Joint agents on the project are Avison Young and Dove Haigh Philips.
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Roger Marsh OBE DL, chair of the Leeds City Region LEP and NP11, said: “This scheme will prove to be highly attractive to businesses and investors looking to relocate to West Yorkshire. The enterprise zone provides attractive opportunities to support recovery, boost local employment and increase business expansion, offering an unrivalled package of incentives, establishing Leeds City Region as a destination for growth and commercial activity.
“I welcome the completion of the second phase of Moor Park 25, which will further establish this prime location as a leader in industrial and logistics space. It is a huge testament to the appeal and economic importance of the enterprise zone in our economic recovery from the Covid-19 pandemic.”