Our commercial property team have advised a leading investment company as they make plans to develop a commercial business park.
Marrtree Investments purchased Clifton Moor retail park, a 2.4-acre site in York from property investment firm New River.
The former B&M store at Clifton Moor retail park was previously gutted by a fire back in 2018.
Marrtree Investments, based in Harrogate, own more than 20 business parks across the north of England. The company said it aimed to build “high-quality” business units, subject to planning permission. The 40,000 ft first phase has tenants, including Screwfix and Toolstation, signed up for nine of the 15 units. Phase two, consisting of 30,000 sq ft, is currently under consideration by planners.
Director of Marrtree Investments, William Marshall, said the company’s plan could create up to 100 new jobs.
“The development will consist of very high-quality business units that York can be proud of, and we’re looking forward to engaging with City of York planners to ensure the development will be of significant benefit to the city,” he added.
His brother George, also a company director, said the York site was also well-located for road links.
“As we emerge from the challenges of the pandemic and look to the future, it’s more important than ever that we ensure our new developments have longevity and create a built environment everyone can be proud of. That is what we plan to do here at Clifton Moor.”
Oliver Brooke, solicitor in our commercial property team, advised Marrtree on the deal.
“The current climate has created uncertainty for many businesses; however, Marrtree Investments have mitigated the risks and laid some solid plans for future growth with the addition of Clifton Moor retail park to their property portfolio. After the devastation of the site’s fire, it is pleasing to learn that their development plans will create more jobs and boost the city of York. I wish William and George Marshall and the Marrtree team all the best for the future.” Oliver Brooke.
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