From email@example.com | Thursday 17 September 2020
Deal sees investment in Trade Yard brand move into seven figures after opening of Beverley and Scunthorpe sites.
Hull property developer Allenby Commercial has completed the acquisition of a prime site to the west of the city as the latest addition to its Trade Yard brand.
The purchase price for the former Bonus Electrical outlet in Willerby has not been disclosed but Allenbys said the deal takes the level of investment in Trade Yard into seven figures, with other sites already operating successfully in Beverley and Scunthorpe.
A national brand has already committed to opening at the new premises in Grange Park Lane, next to the bustling Willerby Shopping Park. Allenbys say further arrivals will drive the creation of up to 30 jobs at the site.
Dale Gooderham, asset manager at Allenby Commercial, said: “We’re planning to start work immediately on redeveloping the site to create the third of our hugely-popular Trade Yard network.
"As with Beverley Trade Yard and Scunthorpe Trade Yard we have identified this as an ideal location which is busy, spacious and has great access.”
Allenby Commercial acted quickly to acquire the property, which includes the former showroom, offices and storage facilities and an adjacent building, when Bonus Electrical decided to focus on its other sites and its online business.
After a full upgrade the building will offer 20,000 square feet of high quality space next to Willerby Shopping Park, where neighbours include Waitrose, McDonald’s, B&M and Aldi.
Dale said: “We re close to announcing the identify of the national brand which we expect to create at least 10 new jobs as part of a total of around 30 jobs across the development.
“They have been attracted by the location on the A164, convenient for all the west Hull villages and beyond, and by the quality of the property which will bring significant cost benefits as a result of our eco-friendly upgrade and our commitment to renewable energy sources.
“It’s a winning formula which is working very well at Scunthorpe, where all the units are occupied, and at Beverley, where demand for space is increasing.”
The Trade Yard Scunthorpe has facilitated the creation of around 40 jobs since opening in 2017. Tenants include Toolstation, Howdens Joinery, Valley Carpets, Motor Parts Direct, Hayley Group and MKM Building Supplies.
About 50 jobs have been created at Beverley Trade Yard which opened in 2016. Tenants now include Hodgsons Sealants, Derbybeech modular buildings, Screwfix, Topps Tiles, Bartoline, ATD Automotive, Oaks of Beverley, Bee Interiors and Prestige Decorators.