Tuesday, January 19, 2021

York Business Park industrial scheme fully let three months after practical completion

Evans Property Group has fully let Phase 1 at Quad, its £1.4 million York Business Park industrial scheme, within 3 months of practical completion.

The property investor and developer has concluded lettings on all three recently developed units to Network Rail and leading European micro-mobility operator, TIER Operations with a fourth unit set to complete in the summer.

The 4,225 sq ft Unit 1 has been let to TIER to help service its year-long agreement with York City Council to provide an e-scooter trial on the streets of York.

Units 2 and 3, comprising 3,650 sq ft and 3,250 sq ft respectively, are let to Network Rail on a 5 year term and each unit contains integral office accommodation, secure parking and a fenced yard area.

The Quad scheme, which was completed by contractor CBM Construction in September 2020, was developed to deliver high quality industrial/warehouse accommodation to the regional pipeline at a time when demand outweighs current supply.

Located on Great North Way, the main estate road within the established York Business Park, the units are just 3 miles from York City Centre and front onto the York outer ring road and the A64.

Evans has secured planning consent for an additional 5,250 sq ft Unit 4 at Quad and CBM Construction has commenced work with completion scheduled for summer 2021. Joint agents Flanagan James and Savills are marketing the unit to potential occupiers.

The investment by Evans continues the firm’s long-standing interests in York Business Park which have spanned some three decades and included the delivery of units for Evans Easy Space and Evans Business Living.

Richard Bean, Senior Asset Manager for Evans Property Group, said: “To have achieved full occupation of all three developed units at Quad within just 12 weeks of completion is a fantastic result.

“We are delighted to be able to assist TIER with accommodation to service its York e-scooter trial and to be welcoming National Rail on board to two units.

“The success of Phase 1 has enabled us to commence works on the next unit and our agents are currently handing interest in Unit 4.”

Richard Flanagan, Director at Flanagan James, added: “The industrial market in York is reflective of the wider national picture, where demand for all unit sizes is high and good quality units are in short supply.

“To have concluded deals on 3 units within 3 months at Quad demonstrates the quality of product and appeal of the strategic location and we are confident in securing a fourth occupier for the final unit which is currently under construction.”

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