MKM, one of the UK’s largest independent builders’ merchants, has renewed its lease for a further 10 years at its 3.6-acre Stoneferry Road site in Hull. The move extends the company’s total lease commitment to 21 years, reinforcing the location’s role in supporting its ongoing national expansion.
Founded in Hull in 1995, MKM has expanded to 135 branches nationwide and continues to invest in infrastructure that supports its Central Support team and broader operations.
The site is owned by Modal, an industrial outdoor storage (IOS) investment manager that currently operates more than 30 IOS assets across the UK. Backed by institutional capital, Modal plans to expand its portfolio to over 60 sites by 2026. The lease renewal marks another long-term agreement between Modal and a major institutional-grade tenant, reflecting sustained demand from occupiers for strategically located IOS assets.
