New retail park project on eyesore site to create 100 jobs
AROUND 100 jobs are expected to be created on a new retail park which is being built on the site of a former factory.
Opus North, the Ilkley- based property development and investment firm, has sold its latest retail park in Armley, near Leeds.
Opus North is transforming the derelict four- acre site, which had become an eyesore.
The firm has sold the leasehold of a 20,000 sq ft Lidl superstore to Lidl.
The Palmer Capital Income Fund has bought the remainder of the site, with tenants B& M Homestore and Farmfoods on 15- year leases. Together, the sales raised £ 8m.
The company secured planning permission to develop the site, which was previously occupied by DENSO Marston, the thermal cooling systems manufacturer.
Construction work on the re- tail park has started and it is scheduled to open in March next year.
The main contractors are Stainforth Construction, based in Shipley, near Bradford.
The park is already fully let, with B& M Homestore occupying 22,000 sq ft and Farm- foods 10,000 sq ft within the scheme.
Andrew Duncan, the managing director of Opus North, said “The decision of high- profile retailers like Lidl, B& M and Farmfoods to move to our new retail park was a resounding endorsement.”