The town of Sherburn in Elmet in North Yorkshire will receive a major boost following the announcement that national bus manufacturer Optare plc is relocating its assembly plant to Sherburn Distribution Park.
Optare plc, which has three factories across the north of England in Leeds, Rotherham and Blackburn, is amalgamating into a single manufacturing facility of 140,000 sq. ft on Sherburn Distribution Park. They have signed a 17 year lease.
The opening of the Sherburn facility by Optare will be the first new bus assembly plant to open in the UK for almost 40 years. Optare’s consolidation into a single new facility will enable the company to become more efficient and increase overall productivity. The new assembly plant will also ensure the company has the right base for future growth and enable Optare plc to compete for large fleet contacts in the UK and European markets.
Paul Mack, Associate Director at global real estate adviser DTZ, who acted on behalf of landlord Evander Properties/Anglesea Capital during the transaction commented: “We are delighted to have successfully attracted such a high profile manufacturer to Sherburn Distribution Park. Once again, Sherburn in Elmet has proven to be the destination of choice for another major company. Optare plc is the latest business to move to Sherburn Distribution Park, following deals with Debenhams, which took 667,000 sq. ft in October 2010, and Sala International which took 92,000 sq. ft in 2009. There are now only two buildings remaining on the park of, 190,000 sq. ft and 330,000 sq. ft respectively.”
He continued: “This latest addition further demonstrates the capabilities of the area as a hot spot for manufacturing and distribution within the Yorkshire region. The Sherburn Industrial Estate benefits from a huge power supply which is key to the manufacturing sector as well as uncongested access to the regional and national motorway network.”
DTZ is a global real estate services firm with offices in 140 cities and 42 countries (across Europe, Middle East and Africa, Asia Pacific and the Americas). The firm provides advice and on-the-ground delivery to investors, developers, corporate and public sector occupiers and financial intermediaries. DTZ works with clients across the breadth of their real estate needs, spanning all real estate sectors and encompassing Investment Agency, Leasing Agency and Brokerage, Property Management, Project Management and Building Consultancy, Valuation, Investment and Asset Management, Consulting, and Research. The parent company, DTZ Holdings plc, has been listed on the London Stock Exchange since 1987. www.dtz.com