York North business park secures Green Light for 34,400 sq ft Industrial Space
Paloma Capital has successfully secured planning approval for four new industrial and warehouse units at its newly rebranded York North business park.
Previously known as Green Park Business Centre, this thriving 122,000 sq ft site, located just outside York in Sutton-on-the-Forest, is gearing up for significant development and modernisation.
Prime Location and Investment Strategy
York North’s strategic location is one of its key selling points. Situated only ten minutes from the York Outer Ring Road, this site offers seamless regional connectivity. With proximity to the A59, which links directly to Junction 47 of the A1(M), businesses based here can effortlessly access the wider motorway network. In addition, York City Centre lies a mere 8.6 miles away, while Clifton Moor and Monks Cross Shopping Park provide convenient amenities for both businesses and employees.
Paloma Capital’s acquisition of the site in 2022 was driven by a sharp focus on tapping into well-located assets in areas with high demand and limited supply. Their rebranding of the site to ‘York North’ marks the beginning of a phased investment programme aimed at delivering value-driven solutions for logistics and industrial occupiers.
Design and Build Opportunities
The newly approved plan for York North includes four state-of-the-art industrial units totalling 34,400 sq ft, with spaces ranging from 4,000 sq ft to 15,400 sq ft. These new builds are aimed at fulfilling the growing demand for customisable last-mile logistics solutions, where occupiers can influence the final design to suit specific operational needs.
Jeremy Thiagarajah, Director for Asset Management and Investment at Paloma Capital, expressed his enthusiasm for the project, stating: “We are delighted to secure planning approval to deliver four new industrial units at York North, expanding the proposition at this already well-established business hub with long-standing occupiers. This site fits well with our acquisition strategy for investing in well-located sites in undersupplied areas. Whilst we have already committed to a major refurbishment programme of existing accommodation, the provision of four new state-of-the-art units will help to fulfil current demand for purpose-designed, last-mile logistics space where occupiers can influence the design.”
Comprehensive Refurbishment and Upgrades
In tandem with the new development, Paloma Capital is heavily investing in upgrading the existing premises on the site. This includes the full refurbishment of a standalone 12,500 sq ft unit with a secure yard, now available for lease. The commitment to revamping this space reflects Paloma’s broader approach of enhancing assets through considered investment and efficient asset management.
A Hub for Regional Business Growth
York North stands out not only for its high-quality facilities but also for its ability to attract and retain diverse occupiers across multiple sectors. The site’s established nature and growing list of enhancements make it an attractive proposition for businesses seeking versatile, scalable space.
Paloma Capital’s strategy is underpinned by their hands-on approach to asset management, focusing on multi-let assets that provide scope for value creation. Established in 2015 by founders Joe Froud and Jack Pitman, the company has built a robust portfolio of investments, managing approximately £640 million of capital. Their emphasis on smaller assets and niche UK investment strategies has consistently driven value for investors from Europe, the Middle East, and North America.
Future-Proofing Through Connectivity
One of the key selling points for York North is its excellent connectivity. As more businesses in the region look to optimise logistics and supply chain operations, easy access to key road networks is paramount.
The site’s proximity to the York Outer Ring Road and key arterial routes like the A59 and A1(M) makes it a compelling choice for businesses needing swift access to regional and national markets. With design and build options on the table, the park offers the flexibility that modern industrial tenants seek.
A Bright Future for York North
With planning approval secured, Paloma Capital’s York North is set to become a focal point for industrial and logistics activity in the region. As the site prepares for the next stage of development, the blend of modern facilities, strategic location, and bespoke solutions positions York North as a prime opportunity for businesses looking to establish a foothold in a key logistics hub.
Representing agents Carter Towler and JLL continue to play a crucial role in marketing the development, ensuring prospective tenants receive expert guidance throughout the leasing process.
In a market where demand for purpose-built logistics space continues to outstrip supply, the addition of these new units at York North offers a timely response. For businesses seeking flexibility, enhanced connectivity, and top-tier facilities, York North is poised to be the answer.
