Sterling Capitol - Industrial Development - Goole, Sterling Capitol Buys Major Goole Business Park

Date: 24 Sep 2007

Leading Leeds developers Sterling Capitol have acquired the pioneering Centreport development at Goole after buying out their partners St James Securities for an "eight-figure" sum.

Centreport, a 310-acre site by Junction 36 of the M62, is set to create 6,000 jobs.

Martin Croxen, the chief executive of Sterling Capitol, commented: "We have had an extremely amicable and successful relationship with St James Securities for the past three years, as we have worked hard together to turn the dream of a major business and industrial park on the outskirts of Goole into a reality.

"This is now happening. As we looked to develop the park, it was agreed that the best way forward was for Sterling Capitol to buy the 50 per cent share held by St James Securities in our joint venture company Sterling St James. This we have done.

"Sterling Capitol has an extremely successful track record in delivering Yorkshire business parks, with high-profile developments in Doncaster, Leeds and Barnsley. Goole is a very welcome addition to our portfolio," he added.

Roland Stross, director of Leeds-based St James Securities, said: "We are very proud of what has been achieved at Goole so far and will look back at our relationship with Sterling Capitol with affection. This deal was the best solution for both parties and we wish Sterling Capitol every success with this development in the future."

Work is now almost complete on Tesco's high-specification 850,000 sq ft distribution depot. Tesco are paying £4 per sq ft for the depot on a 25-year-lease. It will be ready by next month, allowing Tesco to move in before Christmas.

Martin Croxen commented: "The Tesco deal is excellent news for the economy of Goole and the Humber area, which has taken a bit of a battering over the years, it is a great start for the people as the whole development will create more than 6,000 jobs.

He added: "The 1,000 jobs at Tesco's distribution warehouse will range from managerial to IT, logistics and maintenance. These are quality jobs, which will provide sustainable employment for people in the area.

The agents for Centreport are the Leeds offices of Knight Frank and DTZ, together with Leeds industrial agents Gent Visick.

The Centreport Development

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