The Yorkshire Region’s first significant speculative commercial development for nearly two-years is now underway at Meltonwest Business Park on the A63, 10 miles to the west of Hull.

Hull-based Property Company, Wykeland, has shown its confidence in the Region by committing significant speculative investment in the construction of a new 50,480 sqft building on its prestigious Meltonwest Development.

Wykeland Managing Director Dominic Gibbons commented “A combination of the economic climate, lack of bank funding and empty property rates has had a well documented significant impact on development projects, however we have seen renewed confidence in the Region and feel the time is right to commit to speculative development at Meltonwest”.

Despite the regional and national economic uncertainties of the last couple of years Meltonwest Business Park has gone from strength to strength in attracting major companies, including Heron Foods, Paragon and House of Townend.

The Building is being constructed by local company, Havercroft Construction; Grant Bailey of Havercroft expressed his pleasure with winning the contract; “It’s been a difficult period for the construction industry and projects such as this not only have an impact on the jobs we create but have a knock on benefit to other sub-contractors and suppliers in the area”.

Due to complete in August 2011, the versatile design of the building makes it suitable for a host of manufacturing and warehouse uses, and it has the ability to have the offices and the floor designed and delivered to suit a specific Business need, as well as being extended by a further 40,000 sqft if required. As with all buildings at Meltonwest the new development has a bespoke design and will be set on its own site with nearly 25% landscaping, a separate fully fenced concrete yard and space for 42 cars. Wykeland has also committed to invest in solar panels on the roof of the building, which will generate electricity for the eventual end-user.

Mr Gibbons added, “Our vision to create a new-breed of Business Park with high quality designed buildings in a landscaped environment has proven extremely popular and reinforces our decision to invest in this speculative development”.

Tom Lamb of Leeds based property Agent Knight Frank commented “The Yorkshire market has been crying out for a new building of this nature to be developed; the prospect of having to wait a year for a building to be developed is not desirable to all businesses and this will certainly attract a lot of interest”. He added “The location is a big advantage to this Business Park situated alongside the A63 and within easy reach of the Humber Ports and the M62”.