Ripon-based Potter Group has announced a £25 million investment in the business over the next five years and rebranded as Potter Space.
The firm, which sold its logistics operations to WH Bowker two years ago, said the rebranding would better reflect its current business as an owner, developer and operator of commercial business parks across the UK.
Established by Derrick Potter in 1965, the Potter Group started with a single 10 ton Bedford truck, carrying bulk grain and fertiliser on local routes. Over the next 50 years it grew its fleet and purchased five strategic distribution hubs throughout the UK, leading to the award of ‘Haulier of the Year’ in 2015.
At the end of 2016 the family owned business decided to sell the logistics operation and concentrate solely on its business parks in Ripon, Knowsley, Droitwich, Ely and Selby, comprising more than 250 acres and in excess of 1.6m square feet of commercial space.
Use of the current £25m investment is already having an impact with activity now well underway at each of the developments. In September it pre-let a speculative 25,000 square foot unit on its A1M50 Industrial and Distribution Park near Ripon, which is a 10-acre extension to its already successful 42-acre Melmerby Industrial Estate. Work has now begun on another speculative 25,000 square foot unit, which is already attracting interest.
In addition, Potter Space is working closely with Selby District Council, following the Government’s agreement to invest £9m on new infrastructure at Olympia Park, which includes a new link road to greatly improve the access to Potter Space’s facility.
Executive chairman, Derrick Potter, said: “I had a wonderful 50 years building the Potter Group into an award-winning logistics company. However, after much deliberation, we made the strategic decision to sell the logistics operation so that we could concentrate all our efforts on developing the business parks.
“The launch of Potter Space is an exciting new chapter in the company’s history and I am looking forward to working with the new generation in helping to deliver first class commercial business parks across the country.”