​Hull's Wykeland Group forging ahead with major investments during coronavirus

Hull's Wykeland Group has not let the coronavirus pandemic affect its market view as it forges ahead with major investments.

The leading developer has been busy securing new planning approvals, driving forward key regeneration projects and concluding asset acquisitions in the past few weeks.

It comes after the firm sealed the purchase of Hull’s former Marks and Spencer store and another neighbouring property.

Wykeland recently gained planning consent for new business space totalling over 230,000 sq ft at its growing Melton West business park in East Yorkshire.

The approvals from East Riding Council give the green light to development of a 107,000 sq ft operational support building to accommodate more than 500 Humberside Police staff, a speculative 84,000 sq ft industrial development and a 40,000 sq ft office, distribution and warehouse centre for an unidentified end user.

Wykeland has also submitted plans to the council for an 88,000 sq ft distribution centre at Melton West for an unnamed occupier, which would create around 450 jobs.

Development projects under way include the largest single investment yet as part of the £80m regeneration of Hull’s Fruit Market urban village – a 58,500 sq ft head office for Arco, the UK’s leading safety company, together with a 350-space multi-storey car park, for Arco’s use as well as for wider Fruit Market occupiers and visitors.

The Fruit Market regeneration is being driven forward by the Wykeland Beal joint venture formed by Wykeland and housebuilder Beal Homes, working in partnership with Hull City Council.

Wykeland managing director Dominic Gibbons said: “Our recent activity demonstrates our continuing commitment to investing in major projects of strategic importance to the region’s economy.

“We have always taken a long-term market view and that has not been affected by the recent economic shock caused by the coronavirus pandemic.

“We remain confident about the economy in Yorkshire and the Humber as we focus on existing and new growth opportunities. The projects we are currently delivering and those in the pipeline will make an important contribution to the region’s growth post Covid 19.”