Industrial buildings sold for £10m following completion of business park

Turner Developments has sold five industrial buildings for £10m following the completion of a new business park.
Riverside and Aireside business parks, developed by Turner DevelopmentsRiverside and Aireside business parks, developed by Turner Developments
Riverside and Aireside business parks, developed by Turner Developments

The buildings on the former Magnet site in Royd Ings Avenue, Keighley, now named Riverside Business Park, were sold to manufacturing companies.

More than 200 people are currently employed at the business park, with another 30 jobs expected to be created there.

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Addingham-based Turner Developments bought the nine-acre site, which had been disused for three years following the closure of the Magnet factory, in 2014.

The largest unit, covering 90,000 sq ft, has been bought by J Stell & Sons, a cardboard tube manufacturer, which has expanded from its existing site elsewhere in Keighley.

Other premises have been taken by Keighley-based bathroom and kitchen equipment distributor Cavalier Marketing, Ilkley-headquartered engineers Spooner Industries, Bingley-based Dowsons Food Machinery; and Keighley-headquartered Advanced Couplings.

The 270,000 sq ft Riverside development follows the firm’s previous project, Aireside Business Park, at the adjacent former Ponden Mill site, which employs about 200 people. The eight-acre site comprises seven units, totalling 200,000 sq ft. The buildings were sold for £7m.

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James Turner, managing director at Turner Developments, said: “Unprecedented interest in phase one allowed us to fast-track our plans at Riverside Business Park, and now we have reached the conclusion of what has been a hugely successful project for the Aire Valley.”

The firm’s latest project is an eight acre site located at Dalton Lane, Keighley, which has a projected gross development value of £10m. The developer will deliver around 150,000 sq ft of new build industrial space.

The company has worked with Horsley Townsend Architects, Gordons, Atkinson Associates, Hayfield Robinson and MAW Consulting on all three projects.

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