Paloma Capital’s proposals for the redevelopment of the former Green Park Business Centre on the outskirts of York have been given the green light by the local council.
Paloma acquired the 122,000 sq ft business park in 2022 and rebranded it as “York North”.
It will now expand the estate, creating four new warehouses totalling 34,400 sq ft and ranging from 4,000 sq ft to 15,400 sq ft. The existing buildings on site will be refurbished, bringing the gross development value of the redevelopment project to around £7m.
Located on Goose Lane in Sutton-on-the-Forest, York North is 10 minutes from the York Outer Ring Road and close to Clifton Moor.
Jeremy Thiagarajah, director for asset management and investment at Paloma, said: “This site fits well with our acquisition strategy for investing in well-located sites in under supplied areas. While we have already committed to a major refurbishment programme of existing accommodation, the provision of four new units will help to fulfil current demand for purpose-designed, last-mile logistics space where occupiers can influence the design.”
Representing agents are Carter Towler and JLL.
Image supplied by Paloma Capital
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