A YORKSHIRE property development and investment company has signed a multi-million pound deal to sell a 37-acre logistics site at Sherburn-in-Elmet.

Privately owned Yorkshire development and investment company Glentrool Estates Group Ltd has exchanged to sell the site, which forms part of their Sherburn2 development.

It’s being purchased by London-based real estate investor Firethorn Trust.

Jeremy Nolan, a director of Glentrool, said: “This is an excellent deal for all concerned. We are delighted to have brought this site to an advanced state of readiness, delivering a serviced plot enabling Firethorn to swiftly speculatively develop high quality units for occupiers.

“The wider Sherburn site has excellent road and rail transport links and, given the neighbouring Sherburn Enterprise Park is already home to significant multi-nationals; we anticipate Firethorn will enjoy great success in attracting similar prestigious occupiers.

“We are immensely pleased with progress to date at Sherburn2, with our occupiers including Ford Retail, Portakabin and Cromwell Polythene. Overall, our £140m development has the capacity to create 2,500 quality, sustainable jobs.

“We will now be focussing on opening up and developing the remaining plots on Sherburn2, comprising the 180,000sqft North Phase and the 440,000sqft South Phase. There is no doubt Firethorn’s speculative development will add to Sherburn’s reputation as one of the most important logistics sites in the Yorkshire region.”

This deal will allow Firethorn to deliver up to 660,000 sqft logistics warehousing across one or multiple buildings to suit a range of occupiers, from small to medium-sized enterprises to larger manufacturing and distribution companies.

Dan Green of Firethorn said: “This is another example of our strategic approach to identify sites in strong locations across the UK for development and to unlock opportunities to deliver high-quality and sustainable warehousing solutions delivering economic benefits for the wider region.”

Sherburn2 is immediately adjacent to Sherburn Enterprise Park, which is already home to L&G Modular Homes, Eddie Stobart, Sainsbury’s and Clipper Logistics.