Wednesday 05th August 2009

PLOT PURCHASES ON CITY’S DOCK LAND PROVES SECTOR IS BUCKING THE ECONOMIC TREND

Lively Industrial Sales

An East Yorkshire property agent is proving there is life in the industrial land sales sector, despite media reports to the contrary.

PPH Commercial, based at Hesslewood Estate in Ferriby Road, Hessle, has recently sold two industrial sites on Hull's dock land.

One of the sites, a 1.28 acre plot in St Peter Street, has been bought by a manufacturing firm to expand its operations.

The other, a two acre site fronting onto Hedon Road has been purchased by a haulage company as the location of a new distribution facility.

According to Nick Pearce, director of PPH, both plots were on the market for a short period of time before selling at prices equal to those achieved 12 months ago at the height of the market.

Mr Pearce said despite the trend of newspaper and property articles suggesting there was no demand for industrial land, the sales proved the contrary in Hull.

He said "I was not surprised the price we achieved was still at a very good level, as this is reflective of the lack of availability of medium sized sites of this nature in Hull, which has restricted the opportunity for manufacturing companies to develop their own facilities, rather than having to acquire a design and build product.

"In both cases, the companies concerned are expanding and, hopefully, this will lead to further job opportunities".

Mr Pearce said PPH was currently dealing with larger plots of industrial land in Hedon Road and Clough Road, which were subject to considerable interest.