Lovel reveals 400,000 sq ft East Riding industrial intent

The Beverley-based developer has submitted outline proposals for new business space accessed from Junction 38 of the M62 at Newport.

Lovel Developments said the project, with a potential GDV of £37.5m, could deliver 403,500 sq ft of new business space, expanding on a market established by existing business parks including Horncastle’s Green Park.

Lovel itself relocated to Green Park in 2019, a location it sees as having inward investment potential.

The site, off Stony Lane, is 23.5 acres. Although not currently allocated for employment, there is provision within local planning guidance for where sites act as an extension to existing business parks.

The developer’s professional team is led by Planning Prospects and UMC Architects.

According to the planning statement submitted, the proposal would “deliver on a range of employment uses and buildings for business which are clearly in limited supply locally,” adding that there will be a range and flexibility of unit sizes, but with more emphasis on medium and large buildings, as these are in shortest supply locally. CBRE has provided market advice for the project.

Founder Philip Lovel said: “We began by specialising in strategic housing projects and then expanded into the health sector and commercial. As our business grew, the search for a new home brought us to Newport, and we’ve had a front row seat here watching more  businesses arrive and thrive.

“When this opportunity arose just a short distance from our offices we didn’t hesitate. We know from experience that it’s a great, strategic location and is in demand from a variety of business sectors, particularly as there is a limited supply of available space.

“We moved here because of the excellent road links to all points of the compass, we’re confident others will be eager to share those benefits and we’re currently working on similar projects elsewhere across Yorkshire, the East Midlands and the North West.”

Sectors present in the area include distribution, manufacturing, energy, construction and civil engineering.

Lovel said the project will also reflect the priorities set out in the revised National Planning Policy Framework and the East Riding Strategy and Local Plan Update.

He concluded: “In the East Riding there’s a strong need and market demand for employment land to accommodate predicted growth and meet occupier requirements in key sectors such as renewable energy, manufacturing and engineering, agriculture, food and drink and many more. These proposals are of a scale and quality which will help to promote and support employment growth and stimulate continued economic investment to the area, consistent with regional and local aspirations.”