HARRIS LAMB OVERSEES TRANSFORMATION OF FORMER AIRCRAFT FACILITY INTO ENTERPRISE PARK
Harris Lamb has provided support during the transformation of a former aircraft facility into an 86-acre Yorkshire business park on behalf of BAE Systems, securing a sale for BAE Systems.
Humber Enterprise Park in Brough has been purchased by Citivale and Lumina Real Estate Capital.
Harris Lamb was retained by BAE Systems in 2013 to establish estate management arrangements to facilitate the transformation of the 1.1 million sq ft scheme to an Enterprise Zone.
Gert Corfield, director at Harris Lamb, said: “The initial stages involved an intensive period of work in liaising with existing BAE Systems stake holders together with other occupiers of the site and gaining an understanding of the existing management regimes on site.
“Through a series of workshops and close liaison with all interested parties, as well as tendering out key services, the site was converted to a commercially viable business and enterprise park with robust management systems in place.
“This included the recruitment of an experienced estates manager, 24 hour security, facility management services and a full service charge framework, enabling future letting of commercial space both for start up and mature organisations in the Humberside area,” he explained.
More than 555,000 sq ft of the enterprise park is occupied, with existing tenants including BAE Systems (Operations) Ltd, Supercraft Ltd, Cablescan Ltd and East Riding of Yorkshire Council.
The site provides a mixture of office and industrial space, and currently has 450,000 sq ft of vacant industrial space and 85,000 sq ft of available office space.
Gert added: “This is a high profile site for business and organisations seeking a prime location in the North of the country with excellent transport links.
“The site includes 20 acres of development land adjacent to the Brough South mixed use development, which is due to start next year, which includes planning for 800 new houses and over 130,000 sq ft of retail space, providing further opportunities for investment.”
The site benefits from Enterprise Zone and Assisted Area Status.
Harris Lamb acted alongside joint agents PPH Commercial to oversee the sale.
Ken Mellis, Real Estate Manager, of BAE Systems Properties, said: “This was an ambitious and complicated project, and Harris Lamb provided a meticulous service in helping oversee the transformation of the site to an enterprise park filled with opportunity.
“We are extremely pleased with the way that the site was managed and transformed, and with the speed and value of the sale,” he added.