Planning approval secured for new industrial space

Paloma Capital has secured planning consent to deliver four new industrial/warehouse units totalling 34,400 sq ft at its established business park on the outskirts of York. The scheme is now offering design and build opportunities for units ranging from 4,000 sq ft up to 15,400 sq ft.

Formerly known as Green Park Business Centre, the 122,000 sq ft site was acquired by Paloma Capital in 2022 and subsequently rebranded to become ‘York North’. Located on Goose Lane in Sutton-on-the-forest, the multi-let site is strategically located just ten minutes from the York Outer Ring Road and close to Clifton Moor.

Paloma Capital is also committing considerable investment to upgrade existing premises on the estate which includes the complete refurbishment of a stand-alone 12,500 sq ft unit with secure yard which is available to let

Jeremy Thiagarajah, director for Asset Management and Investment at Paloma Capital said, “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 under supplied 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.”

York North benefits from strong regional connectivity, just five miles from York Outer Ring Road at Clifton Moor, which connects to the A59 leading directly to J47 of the A1(M) and wider motorway network. York City Centre is just 8.6 miles away and amenities are close by at Clifton Moor and Monks Cross Shopping Park.

Paloma has raised approximately £640 million of wholly discretionary capital from investors in Europe, the Middle East and North America, which is used to pursue targeted, niche UK investment strategies, frequently focused on smaller assets.

With a very “hands-on” approach to asset management Paloma focuses on multi-let assets which provide opportunity to create additional value through carefully thought out and well executed business plans.