Approval secured for more industrial space at rebranded scheme

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”. The multi-let site is on Goose Lane in Sutton-on-the-forest.

Paloma Capital is also committing 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 pleased 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.”

Representing agents are the Leeds offices of Carter Towler and JLL.

Paloma Capital is a private equity real estate investor established in 2015 and wholly owned by its founding partners Joe Froud and Jack Pitman.

It has raised approximately £640m 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.