Sassan Ahsani's LRE Capital to revitalise Humber Entreprise Park at site of old BaE factory

1. Edited press release (November 11, 2015)
With photos
LC INDUSTRIAL OFFICIALLY LAUNCHES 79-ACRE HUMBER ENTERPRISE
PARK
The pioneering 79-acre Humber Enterprise Park in Brough, East Yorkshire, was launched this
week by LC Industrial, the strategic partnership between LRE Capital (LREC) and Leeds-based
business space specialist Citivale,
The park includes circa 1 million sq ft of high-quality office and industrial space, 20 acres of
development land and benefits from Enterprise Zone and Assisted Area Status which offers
significant incentives to attract new occupiers.
The park was launched this week at a special opening ceremony attended by councillors and
officers from East Riding of Yorkshire Council, property agents and representatives from the
media.
So far £2.5 million has been spent on regenerating the whole site, described as “a jewel in the
Humber’s crown” with another £4.5 million earmarked for further improvements.
It is estimated that 1,600 new and sustainable jobs will be created when the park is fully
developed during the next five years.
Already a number of deals have taken place at the Enterprise Park, which was acquired from
BAE Systems in a multi-million pound transaction.
James Appleton-Metcalfe, Managing Director of Citivale, explained: “It gives us immense
pleasure to officially launch the Humber Enterprise Park. We are exceptionally excited about
this unique development, which will create a new thriving business community with breath-
taking views on the banks of the Humber.
Sassan Ahsani of LREC added: “We believe that our competitive rents and unrivalled working
environment will prove attractive to a whole raft of different occupiers. For example, a
company moving here, and taking 5,000 sq ft of space, could save over £500,000 over a five-
year period compared with other office developments in the area.
“We are keenly aware that our park should not just be a place to work, but also a proper
community where to life can be enjoyed. The development is people-centric – and not solely
commercially-driven.

2. “So we are creating a running track on the perimeter of the site; a heritage museum, paying
tribute to the rich history of aircraft manufacturing here; green spaces and allotments; break-out
areas, a food hall and spaces for art; as well as a fitness suite,” he added.
Mr Appleton-Metcalfe explained that LC Industrial’s expertise lay in buying secondary assets
and using their combined skills and knowledge to reposition them through comprehensive
refurbishment and development. This is what will be done at the Enterprise Park.
“With LREC’s backing and strategic advice, we are confident will see the business park
develop into one of the prime office and industrial locations within the Hull and East Riding
region,” he said. “It has the potential to become an economic powerhouse, attracting all sizes of
companies from incubators and start-ups to stand-alone facilities for more established
organisations. It will be a jewel in the Humber’s crown”.
“We have already agreed a number of deals, which are ringing endorsements of the
development. They include a 12-month letting to Howdens Joinery to lease the 175,000 sq ft B
Shed; a 10-year lease of 8,500 sq ft to Rex Rob Engineering; the sale of the White Car Park to
Humber Fire and Rescue; a lease re-gear for Brough Business Centre to include a further 50 car
parking spaces; and a new 6-year letting to Eco Engineering Installations.
“BAE Systems has also signed new leases on its 555,000 sq ft premises at the site, which is 40
per cent of all the built space on the park,” he added.
The five office buildings, named Hawk, Firebrand, Mercury, Buccaneer and Bluebird after
aircraft which were built on the site, range from 4,582 sq ft to 18,090 sq ft. They will be ready
for occupation in April next year.
Paul Bell, head of Economic Development for the East Riding of Yorkshire Council, who
attended the launch, said: “This is an exceptionally exciting development, which will provide a
tremendous boost to the area’s economy with the creation of sustainable jobs. The care,
commitment and attention to detail shown by the developers is exemplary and we look forward
to watching the successful regeneration of this site over the coming years.
The marketing agents for the Humber Enterprise Park are Commercial Property Partners (CPP)
of Sheffield, JLL of Leeds and PPH of Hull.
Toby Vernon of CPP commented: “LRE Capital & Citivale have a very clear and attractive
vision for the Humber Enterprise Park, which will put Brough back on the map again. Apart
from the first-class facilities on site, the well-located park is close to Brough Station, with trains
running directly to London, and minutes away from the M62. The interest in the site, for both
the offices and the industrial units, has already been extremely encouraging.”
For further information, please contact Robert Beaumont of Robert Beaumont Associates on
01423 323139 or please visit www.humberenterprisepark.co.uk

3. About LRE Capital
LRE Capital (LREC) is a leading real estate investor and advisory company headquartered in
London.
LREC is an active asset manager, investing on behalf of institutions, high net worth individuals
and family offices from across the globe. We invest in direct property, indirect real estate
vehicles and also in the real estate debt market.
LREC seeks to create superior returns and long-term value for our investors through its detailed
stock selection process and strategic asset management expertise across all real estate sectors.
More details can be found on our website: www.lrec.co.uk