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Leeds 24 FEBURARY 2015 - A business park in Scunthorpe which is home to several national brand-name companies is set for further expansion after the developer behind the project completed the sale of the first phase.
Allenby Commercial, based in Hull, say the proceeds from the sale of Parkway Business Park will kick-start the new project which is already attracting the attention of national brands.
The site, which houses seven units with tenants including Screwfix Direct, Crown Decorating Centre and Graham plumbers' merchants, was sold for £1,360,000 with a yield of 8.38 per cent.
Garness Jones of Hull and JLL were the joint agents for Allenby Commercial and Matthew Edward, Regional Managing Partner at Ryden, acted for the purchasers, the trustees of Kingston Unity Friendly Society.
Andrew Allenby, Managing Director of Allenby Commercial, said his company owns the adjacent site of nearly three acres and is preparing a planning application to create a further 30,000 square feet of trade counter space.
He said: "We have always done well in the Scunthorpe area, which has shown that if you produce good quality developments the customers will respond. We want to establish this location as the town's trade park centre.
"The new project will be an expansion of what is already there and the money from this sale will support our ongoing investment and development in the area. We are already in discussion with some national operators which are interested in the new development.
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