Industrial pipeline worth £10.2bn ‘shows confidence’

Planning and design consultancy Barton Willmore, which has an office in Leeds, found there are an estimated 203 industrial schemes, worth around £10.2bn, in the pipeline.

Analysis of industry data shows the schemes are at various stages of the planning process and include buildings for a variety of uses – from manufacturing and warehousing to workshops and research centres.

Claire Kent, director at Barton Willmore, said: “Our research shows a significant number of industrial schemes planned for Yorkshire, across a variety of industries and local authority areas.

“It demonstrates the strength of confidence in Yorkshire, and the Northern Powerhouse as a location for growing industrial operators.

“A lack of high quality industrial and logistics space across the country has been caused by a decade of under investment, and now Yorkshire can benefit from the accumulated demand by providing the space that companies need.

She added: “We can encourage further schemes by investing in transport and infrastructure and offering incentives to developers. In doing so we’ll attract further investment to Yorkshire.”

Barton Willmore’s research highlighted planning submissions across the county, with concentrations in East Yorkshire and Sheffield.

It comes on the back of renewed confidence in the Yorkshire speculative warehouse market, noted by property agents Knight Frank in a report at the end of last year.

The agent said there has been a re-emergence of speculative industrial development in West Yorkshire after a brief respite in 2017.

Ms Kent said: “This research shows us there is wider reason for optimism in the Yorkshire economy – because there is both demand and investment.

“There were record levels of take-up of industrial property throughout 2018 in Yorkshire, putting further pressure on supply.

“Barton Willmore’s clients are helping to alleviate that supply constraint.

She added: “We’re working on a number of high profile schemes across Yorkshire, including the former Kellingley Colliery where developer Harworth Group plans to provide 1.45 million sq ft of manufacturing and distribution space and Gateway 45 in Leeds which has planning consent for up to 2.96 million sq ft of industrial development.”

Last week, developer Wykeland Group launched the masterplan to extend its Melton West business park in Hull, which has the potential to create a one million sq ft ‘mega shed’. This will provide up to 2.85m sq ft of space, which includes existing operations.

Work has also started on the first phase of the £5m Aero Centre development at Doncaster Sheffield Airport by developer Priority Space.

Along the M62 corridor, the Barwood Capital and BA Pension fund joint venture is building ‘Super G’, a new 258,000 sq ft distribution facility located off Junction 32 of the M62 which will represent the largest speculative ‘big shed’ in West Yorkshire.

Meanwhile, Onward Holdings is building a new speculative high bay detached 67,000 sq ft warehouse at Phoenix Park in Featherstone at junction 31 of the M62.

Harrogate-based Gregory Property Group has pushed the button on its 9.75 acre Park 32 development in Pontefract.