Spec build gets underway

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Stoford Developments has started building work on a speculative distribution scheme in Yorkshire after being buoyed by the successful completion of a similar development in the East Midlands.

The two units of 140,000 sq ft and 80,000 sq ft on a 13-acre site at Thorne in East Yorkshire have been forward-sold to PRUPIM, one of the UK’s leading real estate management companies, for £13 million.

Both units, supremely located off Junction 6 of the M18 motorway, are scheduled for completion this autumn.

The start on site follows the successful completion of a 140,000 sq ft warehouse at Measham in Leicestershire, which has also been pre-sold in a £10 million deal to PRUPIM.

Stoford director Dan Gallagher said: “The presale of our speculative warehouse scheme in Thorne shows that even in uncertain financial market conditions there is still strong demand for quality warehousing in a prime location.”

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