Opus North and Bridges Fund Management (“Bridges”) have acquired a 38-acre strategic site near Harrogate to deliver a high-quality employment development, Harrogate 47, that could potentially support 2,000 jobs.
The site, located south-west of J47 of the A1M in North Yorkshire, has been allocated as the main strategic employment site in Harrogate Borough Council’s newly adopted Local Plan, due to its excellent access to the transport network. It benefits from an existing planning permission for over half a million square feet of development for employment uses.
Opus North and Bridges will now progress a revised masterplan for Harrogate 47 that maximises the job-creating potential of the site, working closely with Harrogate Borough Council and other key stakeholders. Opus North is instructing a consultancy team to prepare a new outline planning application that will be submitted for consideration later in the year.
CBRE acted for Opus North and Bridges, while Gent Visick represented the vendor, a private individual.
Ryan Unsworth, Development Director of Opus North, said: “This is a site with clear potential to make a significant contribution to the local economy through job creation and also through the delivery of high-quality office and logistics accommodation to meet existing and future market demand. With our joint venture partner, we are in a position to bring this development to life and are looking forward to continuing our discussions with both the Council and local stakeholders to create an exemplar development to address the local and regional shortages of employment space.”
Opus North is recognised as one of the most active and successful developers in Yorkshire, with extensive development delivery experience. Bridges Fund Management specialises in investing in the transition to a more inclusive and sustainable economy: it supports property solutions that help to reduce emissions, regenerate communities, and revitalise industrial and business spaces.
Guy Bowden, Partner at Bridges Fund Management, said: “We believe this important site in Harrogate can play a key role in meeting industrial demand and supporting the growth of the local economy. We are excited by the opportunity to create a highly sustainable development that will minimise environmental impact while maximising wellbeing and cost savings for future tenants.”