‘Household name’ kitchen retailer signs for 150,000 sq ft at Humber Enterprise Park
York-headquartered investment manager Citivale and advisory firm LRE Capital have secured an occupier for a 150,000 sq ft warehouse at Humber Enterprise Park in Brough.
The deal, involving a kitchen manufacturer and retailer, is the biggest industrial letting in the Hull and East Riding area of the last 12 months.
The kitchen retailer signed a six-year lease on the unit, which was recently been refurbished and includes office space.
Humber Enterprise Park comprises one million sq ft of office and industrial space, along with 20 acres of development land. To date, £6m has gone into regenerating the site and £1.2m is earmarked for future improvements.
An estimated 1,600 new jobs will have been created once the park is fully developed in the next three years.
Citivale and LRE Capital are the companies behind LC Industrial, a joint venture formed in 2015 to invest in the UK’s industrial sector.
Citivale MD James Appleton-Metcalfe said: “Our competitive rents and unrivalled working environment are proving attractive to a whole raft of different occupiers.
“It is immensely gratifying to conclude such a large letting to a well-known household name and a leader in their field.”
He continued: “This is tremendous news for Humber Enterprise Park and brings our industrial accommodation to 100% occupancy.
“This latest letting completes over 550,000 sq ft of industrial transactions carried out by Citivale at HEP since purchase. This is testament to our ability to deliver on larger refurbishment and development projects.”
PPH Commercial concluded the letting on behalf of Citivale.
Ben Medhurst, director at PPH Commercial, commented: “We were delighted to be able to complete the largest industrial letting within the Hull and East Riding area in 2018.
“It is especially pleasing that a well-established and growing national business has taken the 150,000 sq ft of storage and distribution space at Humber Enterprise Park. The location was an obvious choice given the easy access and low occupational costs that the site offers.”