Engineering company Heeco’s old factory in Hull has been bought by new owners, with big plans announced for its future.
The industrial unit, in Sutton Fields Industrial Estate, has lay empty since Heeco collapsed into administration in June.
East Yorkshire property company Essential Estates has now bought the building, pledged to invest a five-figure sum to bring it back to life, and said the site could support 100 jobs in Hull.
PPH Commercial will act as the sole agent for the property, expected to hit the market in the New Year.
Ben Medhurst, director at PPH, said: “Sutton Fields is the biggest and arguably the best industrial location within the Hull city boundary and I’m delighted that the Essential Group are fully committed to a modernisation which will further strengthen this reputation.
“Whilst it was disappointing to see Heeco fall into administration, this new investment by the new owner will undoubtedly make the premises far more appealing to a prospective occupier.
“The unit is big enough to create up to 100 jobs, depending on the business’ size and the sector in which they operate, which would provide Hull’s economy with a significant boost and a positive start to the New Year.
“We have already had a number of enquiries and viewings from prospective occupiers.”
Heeco – the Humber Electrical Engineering Company – employed over 50 people at its Sutton Fields base in Hull before being forced to enter administration in June 2019 after 111 years of trading.
Staff working at the historic Hull business were made redundant, as the firm stopped trading with immediate effect.
At the time of its shock collapse in the summer, administrators said Heeco had faced “severe financial pressures in recent months following the culmination of previous contracts and delays in the receipt and commencement of new contracts.”
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Andrew Haslam, of administrator FRP Advisory LLP, said: “Every effort was made to save the company in recent weeks, however, with no prospect of a purchase, the only remaining option was to close the business.”
Six months later, Heeco’s old home in Amsterdam Road, in Sutton Fields, has been bought by new owner Essential Estates.
The property firm has pledged to bring both the offices and manufacturing staff facilities up to date, with an extensive refurbishment which will be completed early in the New Year.
Having negotiated the initial purchase, PPH Commercial has been appointed as the sole agent for the 26,422sqft unit, which boasts ground floor and mezzanine offices, a boardroom, reception area, kitchen, WCs and locker rooms.
For more details on the unit, or call Ben Medhurst on 07710 344603 for an informal discussion.
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Business Live's Hull & East Yorkshire journalist is Phil Winter, also the business editor at the Hull Daily Mail and Hull Live.
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