The pioneering Newhall Business Park, constructed and developed by leading Bradford developer Frank Marshall Estates, is now fully let.
The 38,000 sq ft park, which is the only speculative industrial development to be built in Bradford in recent years, has created 120 sustainable new jobs.
Occupiers include Candy Hero Ltd, Wilkies, Kerry Logistics (UK), Kokoon Ltd, the MCD Group, Bear Metals and Eric Wright Civil Engineering.
It has taken less than a year to let all eight units on the park.
In the latest deal, Kerry Logistics, the leading global logistics service provider, has taken 5,500 sq ft of quality industrial space at Newhall, having closed its two Yorkshire depots at Morley and Yeadon.
Frank Marshall Estates bought the five-acre business park, part of Prologis Park, from Prologis for an undisclosed sum in 2016. The development was 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.
Sjoerd Hofstra of Kerry Logistics explained: “We chose Newhall as we needed a site that was roughly in the middle of our two old sites of Morley and Yeadon, and which had good transport connections for our vehicles and staff. The ease of access to the M62/M1 from the M606 made this site particularly appealing and the size of the unit was exactly what we were looking for as well.”
Edward Marshall commented: “We are tremendously excited at securing our final deal at Newhall Business Park, which rewards our faith in developing it speculatively. To fill the whole park within a year is just amazing. In our 40-year history, we have never experienced such a successful development in terms of the speed of letting.
“The location was a factor, of course. 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: “Our eight self-contained, high-quality units have proved to be ideal for businesses requiring small premises. The units, which range from 1,700 sq ft to 11,350 sq ft, have been adapted to occupiers’ needs and are equipped with the very best facilities and the latest technology. We set a new standard for industrial space in the area – and the area has responded magnificently.”
Frank Marshall Estates themselves are moving their headquarters to the site from the nearby Link 606 Office Park in the summer, 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. Our new business units satisfied this pent-up demand.”
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, director with joint marketing agents Walker Singleton, commented: “Bradford has been in urgent need of quality industrial space for some time and Frank Marshall Estates have delivered a high-quality product which has been well received by the market and has set a new benchmark for prime rents in the area.”
Mike Haigh, partner with joint marketing agents Dove Haigh Phillips, commented: “This has proved to be a prime development in a premier location and Frank Marshall Estates are to be congratulated on taking the brave – and successful – decision to develop the park speculatively. Marks and Spencer’s hugely successful regional distribution centre is next door, underlining the excellent transport links and the success of the site.”
