18 January 2016
Lettings secured for refurbished wartime munitions factory
A REFURBISHMENT project at two former wartime munitions factory buildings on a business estate in North Yorkshire is enjoying an uptake of letting.
Two units have been let, and a third is imminent, following the extensive refurbishment at Thorp Arch Estate this summer. The lettings have been made to Aerotech Abrasives Group and Stuart Hirst at Units 710 and 715 where refurbishment has created six new individual industrial units.
Tim Munns, director of Wharfedale Property Management, which manages Thorp Arch Estate for owner, Rockspring Hanover Property Unit Trust, said:
“We are encouraged by the speed of the lettings at these two units. This follows the successful refurbishment of Units 713 and 726 in 2014 where five of the units were let upon completion of the refurbishment works and all nine units were let within six months.
“As a result, Rockspring Hanover Property Unit Trust has decided to proceed with speculative new development at Thorp Arch Estate for the first time since 2005 and is starting work on creating seven industrial units of between 3,000 sq ft and 4,000 sq ft each, which are due to complete in July 2016.In the 12 months up to September 30, 26 companies located onto the Thorp Arch Estate, at the same time as a number of existing tenants expanded and moved into larger premises. This shows the continued popularity of the estate with a growing numbers of companies choosing to base their businesses on the estate.”
The refurbishment included the fitting of new insulated roofs with skylights, cladding the original brick walls with insulated sheets and fitting new roller shutter doors and steel personnel doors. The two-million sq ft Thorp Arch Estate is base for a range of more than 140 businesses, from start-ups to large Plcs, operating in local, national and international markets and employing more than 1,800 people.
Thorp Arch Retail Park, which forms part of the estate, was the first out-of-town shopping centre in the country when it opened in 1959 and is complemented by a variety of leisure facilities.
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Article courtesy of The York Press.
