The pioneering Newhall Business Park, constructed and developed by leading Bradford developer Frank Marshall Estates, has secured its first letting.
The park, which is the first speculative industrial development to be built in Bradford since the recession, will create 120 sustainable new jobs.
Wilkies Floors, part of the MCD Group, are taking 3,250 sq ft of quality industrial and trade counter space in Unit 5 on the estate.
Frank Marshall Estates bought the five-acre business park, part of Prologis Park, from Prologis for an undisclosed sum earlier last year. Outline planning for eight business units, totalling 38,000 sq ft, has been granted by Bradford City Council.
The development has been built by Bradford-based construction company Percy Pickard Contractors.
Frank Marshall Estates is run by Edward and Jimmy Marshall and is a well-established real estate company with significant commercial assets in Yorkshire.
Paul Waterhouse, partner with Wilkies, who specialise in carpet fitting and floor covering, commented: “This is our first venture into a satellite branch away from our head office in Morley. We looked at various sites in the Bradford area before we came across Newhall and that changed everything for us.
“The location and quality of the units at Newhall made our decision easy and has given us a feelgood factor for increased sales as we move forward into 2017. Everyone involved at the site has been great, which has been a major factor during this process.
“We hope that Frank Marshall Estates are well on the way to filling the site with new businesses and that we all work together to make it a success,” said Mr Waterhouse.
Edward Marshall commented: “We are tremendously excited at securing our first deal at Newhall Business Park, which rewards our faith in developing it speculatively. Newhall occupies an exceptional position at the top of the M606 to the south of Bradford city centre and is just minutes away from the hub of Yorkshire’s excellent motorway network. The location is superb, arguably the best for industrial property in Bradford.”
He explained: “There is now serious interest in the other units at the business park, with discussions with two new occupiers at an advanced stage. Our eight self-contained, high-quality units are ideal for businesses requiring small premises. The units, which range from 1,700 sq ft to 11,350 sq ft, can be adapted to occupiers’ needs and are equipped with the very best facilities and the latest technology. We are setting a new standard for industrial space in the area.”
Frank Marshall Estates themselves are moving their headquarters to the site from the nearby Link 606 Office Park next spring, occupying the 17th century Grade II listed building which fronts Rooley Lane and was formerly the club house of West Bowling Golf Club. The building is currently being extensively refurbished and will be split into two wings, The East Wing and the West Wing, allowing another occupier more than 2,400 sq ft of quality office space.
Jimmy Marshall explained: “We are very proud of our Bradford heritage and believe strongly that this is a business park for Bradford. We have shown our confidence in the area by building the first speculative multi-let estate in recent years. We have also ensured that the contractors and sub-contractors on site are from the Bradford region.
“As the economy picks up after some difficult years, a number of smaller to medium-sized businesses are feeling more confident and are looking to consolidate and expand. We believe our new business units will satisfy this pent-up demand. Ultimately we hope to create 120 sustainable and quality jobs here.”
The rents for the industrial units will be in the region of £7.50 per sq ft, while the quoting office rent is £15 per sq ft.
Jonathan O’Connor, associate with joint marketing agents Walker Singleton, commented: “This first letting is significant as Newhall is the first speculative build of this type in Bradford for over seven years. The quality of the units is second to none and demonstrates Frank Marshall Estates’ commitment and confidence in the city.
“Newhall has only just been completed and over half the floor area is now under offer, setting new headline rents for the city and clearly showing the pent up demand for top-quality accommodation in a prime location,” he added.
Mike Haigh, partner with joint marketing agents Dove Haigh Phillips, commented: “This is a prime development site in a premier location. Marks and Spencer’s hugely successful regional distribution centre is next door, underlining the excellent transport links and the success of the site.”
The Bradford office of Eddisons are also marketing Newhall Business Park, while Simon Mydlowski of Gordons is providing legal advice.