Investors have snapped up a 14-acre site in Hull’s growing industrial, manufacturing and renewables sector heartlands in a multi-million pound deal.
The Century Yard site is opposite Green Port Hull on Hedon Road, where Siemens, alongside Associated British Ports (ABP) and Hull City Council, have invested more than £300m into creating wealth and employment for the region.
Now, commercial property specialists Garness Jones have overseen a deal which has seen another sprawling industrial site sold to BVG Property Investments.
Managing Director David Garness says it offers ‘a land of opportunity’ to its new owners: “This has been a very pleasing deal to be involved with at Garness Jones as it is rare for the freehold of a site of this size, in a location of such strategic importance to the region with regards to its proximity to the dock facilities, Green Port Hull and other major businesses, to become available on the market.
“Having gone to market an excellent price was secured for the vendor, and it really is a land of opportunity for BVG Property Investments, an expanding commercial property company who now have this site which has more than seven acres still undeveloped.”
BVG Property Investments have now also instructed Garness Jones to act for them in an advisory role to help develop the site.
“We are delighted that the new owners have asked us to work in partnership with them moving forward to make sure their investment is maximized, along with providing support on a number of other property projects,” added Mr Garness.
“Not only have they purchased a site which is already home to a number of businesses and generating excellent rental income from tenants, but one which is at the nerve centre of many growing industries in our region.
“It is a prime spot to attract businesses looking at what is happening in Hull and the East Riding and considering investing in the region, at a time when we are set to benefit from further growth as a result of the recently agreed £400m devolution deal.
“As the city and region is set to benefit from new investment, it is essential that facilities are provided to ensure we attract and retain businesses in growth sectors. We look forward to working together on the development of Century Yard over the coming years.”
