TJ Morris bumps up warehouse delivery by a year

The retail corporation has paid Hargreaves Services, through its Unity joint venture £25m for land at Unity, a major regeneration and development scheme in Yorkshire, a year earlier than planned.

The sale was originally expected to complete in the second half of the financial year ending 31 May 2022 following completion of the site access road and plot servicing. This work, which commenced at the beginning of 2021 and is programmed to complete at the end of this year, is funded independently from Hargreaves. The sale has now been brought forward at the purchaser’s request.

The deal represents the first significant transaction on the Unity mixed use development scheme, which is held in a 50:50 joint venture with regional developer Waystone Developments.

The 79-acre plot has been sold for the development of an 800,000 sq ft distribution and training centre.

Unity, located immediately to the east of Doncaster, is one of the largest regeneration schemes within the Yorkshire region and has planning permission for 2 million sq ft of commercial space and 3,100 homes across 650 acres.

The project reached a major milestone in December 2020 with the completion and opening of the new Link Road which provides the whole development with direct access to junction 5 of the M18 motorway.

Joint agents on the site are knight Frank and Commercial Property Partners.