The commercial property developer Wykeland Group has sealed its largest ever land purchase to increase the size of one of its biggest developments.
A total of 230 acres has been acquired at the Melton Park site in East Yorkshire. The multi-million pounds deal includes 100 acres of development land, 95 acres of farmland and 35 acres of woodland, which has been purchased from Birmingham-based property company St Modwen.
Wykeland plans to merge the development land with its neighbouring Meltonwest mixed-use business park, to create a 200-acre commercial cluster and meet demand from blue chip brands.
A spokesman said: “It will create one of Yorkshire and the Humber’s largest business parks, ultimately offering a total of 2.75m sq ft of space with an end value of more than £200m and an employment potential of more than 5,000 jobs.”
Meltonwest already has 700,000 sq ft of completed development, with around 1,100 people employed at the site.
The firms based at Meltonwest include Heron Foods, which has its national distribution centre and store support centre on site; generator manufacturer Allam Marine; shower maker Kohler Mira; and Needlers, the supplier of safety and hygiene products to the food manufacturing industry.
Plans were also recently submitted to East Riding of Yorkshire Council by Wykeland and Lister Group for a £10m Mercedes-Benz dealership for Listers at Meltonwest.
Wykeland Managing Director Dominic Gibbons said: “This is our largest ever acquisition in terms of land area, so it’s a milestone deal for the business.
“The potential of Melton Park has been known to us for many years, so we are delighted that we have now been able to add it to our growing development pipeline.
“This acquisition creates a unique opportunity to capitalise on the success of Meltonwest and demonstrates our strong confidence in the region’s economy, particularly the manufacturing, warehousing and distribution sectors, for which the Melton site is ideal.
“We aim to develop the site over the next decade and we’re looking at the potential for some speculative development in 2019.”
The spokesman added: “Wykeland is noted for creating premium business locations that enhance the natural landscape and offer a great working environment. A prime example is Bridgehead, close to the Humber Bridge, where Wykeland has a partnership with the Yorkshire Wildlife Trust.
“Bridgehead is one of the UK’s greenest and most sustainable business parks and features a 1km-long woodland trail.”
Mr Gibbons added: “Our intention is to work with partners to enhance the woodland area and create opportunities for workers across the expanded business park to use it for leisure and exercise, supporting the efforts of businesses based on site to promote employee wellbeing.”
The Melton Park purchase takes the value of Wykeland’s development pipeline across Yorkshire and the Humber to almost £400m as the business continues to deliver some of the region’s largest schemes.
Wykeland is working with Beal Homes and in partnership with Hull City Council to create Hull’s first urban village in the Fruit Market waterfront quarter.