Sherburn logistics site bought by London investor in ‘excellent deal’
A 37-acre logistics site at Sherburn-in-Elmet has been sold by Yorkshire development and investment company Glentrool Estates Group Ltd in a multi-million pound deal.
The site at Junction 42 of the A1(M) forms part of Glentrool’s flourishing Sherburn2 development, and is being purchased by London-based real estate investor Firethorn Trust.
Jeremy Nolan, a director of Glentrool, called it “an excellent deal for all concerned”.
“We are delighted to have brought this site to an advanced state of readiness, delivering a serviced plot enabling Firethorn to swiftly speculatively develop high-quality units for occupiers,” he said.
“The wider Sherburn site has excellent road and rail transport links and, given the neighbouring Sherburn Enterprise Park is already home to significant multi-nationals, we anticipate Firethorn will enjoy great success in attracting similar prestigious occupiers.
“We are immensely pleased with progress to date at Sherburn2, with our occupiers including Ford Retail, Portakabin and Cromwell Polythene. Overall, our £140m development has the capacity to create 2,500 quality, sustainable jobs.
“We will now be focusing on opening up and developing the remaining plots on Sherburn2, comprising the 180,000sqft North Phase and the 440,000sqft South Phase.”
The deal will allow Firethorn to deliver up to 660,000 sq ft of logistics warehousing across one or more buildings to suit a range of occupiers.
Sherburn2 is adjacent to Sherburn Enterprise Park, which is already home to several large multi-national occupiers, including L&G Modular Homes, Eddie Stobart, Sainsbury’s and Clipper Logistics.