Wykeland building boost for region

Dominic Gibbons, the group managing director, said the firm had succeeded by staying true to the principles of its founder, the late businessman and philanthropist Jack Brignall.

In particular, it had avoided getting into debt.

Mr Gibbons said: “We are true to what Jack put in place, which is all about sustainable asset growth.

“Jack built up a business over 40 years based on a foundation of long-term partnerships and long-term relationships. The ethos and ethics of the business are still the same today.”

He added: “During tough trading conditions globally, there are many opportunities for a business such as ourselves with no gearing.”

The company, which is behind the £120m Flemingate development in Beverley, also revealed that its pre-tax profit rose over the last financial year from £4.1m to £4.51m. The group turnover in the year ended April 4 also increased from £4.96m to £9.1m.

Mr Gibbons also confirmed that the Hull-based business was “looking further down the M62” at one or two potential development projects in West Yorkshire.

It’s anticipated that these schemes, which could come to fruition in the next few months, will be on sites close to the motorway network.

Mr Gibbons couldn’t give details about the locations of the sites or the number of jobs that might be created. The Yorkshire Post understands that the sites could be used for manufacturing, warehouses or office space.

Mr Gibbons added: “We are cautiously optimistic about the economy.”

However, he stressed there was a “long hard road” to recovery, and Wykeland would focus on sensible development in the right places.

The Flemingate scheme, which could open by the end of 2014, includes an 80-bed Premier Inn, office accommodation, an independent cinema and a Debenhams store.

Wykeland is the lead developer for the scheme. The plans were approved by councillors in July, but had to be referred to the Government.

In August, Communities Secretary Eric Pickles told East Riding Council that he would not call the application in, so Wykeland can press ahead with the development.

Mr Gibbons said that the Flemingate scheme gave Wykeland more credibility nationally.

It’s hoped the development will turn Beverley into a “destination of choice”.

Work on the scheme is expected to begin in the middle of next year. Mr Gibbons said he hoped the arrival of a big name retailer like Debenhams would provide a major boost for East Yorkshire’s economy. He also has high hopes for Wykeland’s Melton West business park near Hull. In late 2011, the site received planning permission for the second phase of its development, which could create 1,400 new jobs.

Wykeland has completed more than 10 million sq ft of commercial space across a range of sectors in the UK in the last 40 years.

The company has developed a number of high profile schemes, which have helped to create hundreds of jobs, including the Europarc business park in Grimsby.

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