Dearing Plastics snaps up 40,000 sq ft facility at Humber Enterprise Park

LC Industrial, the joint venture between LRE Capital and Leeds-based business specialist Citivale, has agreed a deal with Dearing Plastics for a new 40,000 sq ft warehouse at Humber Enterprise Park in Brough.

Dearing Plastics, the Hull-based plastic mouldings company, is moving to the 79-acre Park next month, as part of its wider expansion plans. The warehouse unit has been refurbished and also includes office accommodation.

It is anticipated that the move will lead to the firm employing additional staff.

Humber Enterprise Park features 1.3 million sq ft of office and industrial space and 20 acres of development land. The site benefits from Enterprise Zone and Assisted Area Status, which offers incentives to attract new occupiers.

LC Industrial was launched in 2015 to invest in the UK industrial sector.

Sassan Ahsani, managing director and founder of LRE Capital, commented: “It gives us immense pleasure to welcome such a successful company to our park. Their move is a resounding endorsement of what we are trying to achieve at this unique development, creating a new thriving business community with breath-taking views on the banks of the Humber.”

James Appleton-Metcalfe, managing director of Citivale, said: “Already our competitive rents and unrivalled working environment are proving attractive to a whole raft of different occupiers. For example, a company moving here and taking 5,000 sq ft of space, would save over £500,000 over a five-year period compared with other office developments in the area.”

Andy Harris, director of Dearing Plastics, explained: “In the past four years we have seen continued growth and as a result has outgrown its base in Hull. The increase of almost 30% in exports, coupled with the investment in own product tooling, has seen the company invest in larger moulding machines. This has given us the opportunity to offer a greater range of manufacturing capability to many sectors.

“We currently employ 30 permanent staff with 10 Agency workers. It is envisaged that once the move is completed, we will then begin a recruitment drive to employ more permanent staff in all areas of our production.

“We decided to move to the Enterprise Park because we needed premises that had sufficient energy availability for our large injection moulding machines. In addition, the standard of the site had to be such that our blue chip clients were confident that their investment in tooling was safeguarded on our site.

“We are currently installing welfare facilities offices and equipment needed for our production. We hope to switch off the full production line at 6 am on March 11 and move our entire production facility to Brough by March 20.”

Ben Medhurst, director at PPH Commercial who negotiated the transaction on behalf of the landlords, commented: “It is great to see a local company such as Dearing Plastics decide to relocate to Brough, carrying on a long tradition of manufacturing at the site.

“The site is an enterprise zone and provides some of the largest single buildings in the East Riding, with very low occupational costs. The landlords need to be congratulated on creating a dynamic business environment which is proving attractive in the local market place.”

To date, £6m has been spent on regenerating the whole site, with another £1.2m earmarked for further improvements. It is estimated that 1,600 new and sustainable jobs will be created when the park is fully developed during the next three years.

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