Yorkshire Counties
Strong Start to 2025: Record-Breaking Industrial Deals For Carter Towler
We recently caught up with Josh Holmes, Industrial Agency Director at Carter Towler, to discuss the impressive start the business has had in 2025. In the early weeks of the new year, the company’s industrial team has been involved with a series of record-breaking mid and big box deals. Notable highlights include three top rent agreements. At Towngate’s TL2 Industrial Estate in Cross Green, Leeds, £8.90 per sq ft has been achieved on a refurbished mid box. Meanwhile, at GMPF’s Leeds Valley Park in Stourton, two headline rents have been secured: £9.50 per sq ft for Unit 4 and £10.00 per sq ft for Unit 1.
Josh Holmes
The big box market is also buoyant, with a prime example being the letting of a 280,000 sq ft distribution hub at Sherburn in Elmet. This facility was leased to a global conglomer- ate, further contributing to the region’s strong start to the year. In just the first quarter of 2025, Carter Towler has already transacted around 1 million sq ft of industrial space, nearly matching the total volume for all of 2024. The market last year was subdued by various factors, including the election and Labour’s financial statement. However, this
has led to pent-up demand, particularly in South Yorkshire, where the oversupply of big box space is quickly being taken up by occupiers.
Josh is optimistic about the return of spec- ulative developments in the region, though the volume remains limited. The largest speculative warehouse in the UK – 770,000 sq ft – is currently under construction in South Yorkshire by Panattoni. Additionally, Opus North is now on site constructing a multi-let scheme of approximately 100,000 sq ft at Harrogate 47, and Chancerygate is developing 22 units at Cross Green, ranging from 4,500 to 35,000 sq ft. However, much more Grade A industrial property is needed, both mid and big box, as supply is seriously constrained.
for more details please visit
www.cartertowler.co.uk
Marrtree starts work on £3.5m Calder Park business units that will generate 100 jobs
Marrtree Investments has begun construc- tion work on a £3.5m 40,000 sq ft develop- ment of nine new business units at Calder Park near Wakefield this month.
Marrtree Business Park Wakefield will be the Yorkshire developer’s 23rd strategically located employment site across the north of England, with completion scheduled for June 2025.
The new development will provide ware- house, industrial and trade counter space across nine units of between 3,500 sq ft and 5,000 sq ft. The firm recently com- pleted a £4.5m 27,000 sq ft business park and Starbucks drive thru at Clifton Moor in York earlier this year.
Marrtree Investments director William Marshall said: “Calder Park is a really great location for our brand of modern, ergo- nomic business space. It has fantastic com- munication links, situated right next to junc- tion 39 of the M1 motorway, which makes
it ideal for a variety of occupiers, and the site is also served by regular public trans- port and safe cycle routes from Wakefield town centre.
“Demand for really good quality space of this size, like our product, continues to outstrip supply and not surprisingly, we have seen excellent levels of interest so far.
“As with our previous developments, such as the 70,000 sq ft Sowerby Gateway site at Thirsk, we expect demand to be high for the units at Marrtree Business Park Wakefield, with the prospect of around 100 jobs being created.”
Organisations currently based at Calder Park include National Highways, Taylor Wimpey Homes, West Yorkshire Police and Minster Law.
Marrtree Investments director George Marshall added: “We have also worked really hard on the environmental
credentials of this new development, which is next to a 100-acre nature reserve.
“We have incorporated solar panels on the roofs of the units as well as EV charging points, and we are excited that it’s a location that enables people to cycle to work safely and easily.”
Newcastle-based STP Construction has been appointed as the main con- tractor for the construction of the new business park, with the Leeds offices of Savills, and GV & Co appointed as letting agents.
Founded in Bradford in the 1940s, and now run by the third-generation brothers William and George Marshall, the Marrtree Group of companies has operated for over 80 years.
With interests in commercial and residen- tial property, quarrying and forestry, the business is now based in Harrogate.
COMMERCIAL PROPERTY MONTHLY 2025
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