Hull-based developer Allenby Commercial has swooped for the former Bonus Electrical superstore at Willerby,
The cross-city deal will see it roll out the latest addition to the Trade Yard brand, with investment now into the millions of pounds.
Other sites are already operating in Beverley and Scunthorpe, with a national brand already committed to opening.
Bonus, founded by city entrepreneur Eric Boanas, closed in January after 15 years as the firm’s flagship outlet. It took a “leap of faith” to focus on online sales from the Tower Street headquarters, where a counter operation remains open to the public.
A full upgrade will see 20,000 sq ft of space created on Grange Park Lane, next to Willerby Shopping Park, where the likes of Waitrose, McDonald's, B&M and Aldi are located.
It is hoped up to 30 jobs will be created when fully let.
Dale Gooderham, asset manager at Allenby Commercial, said: “We’re planning to start work immediately on redeveloping the site to create the third of our hugely-popular Trade Yard network. As with Beverley Trade Yard and Scunthorpe Trade Yard we have identified this as an ideal location which is busy, spacious and has great access.”
He said the team acted quickly to acquire the property – which includes the former showroom, offices and storage facilities and an adjacent building – when Bonus made the decision in September last year.
Dale said: “We’re close to announcing the identity of the national brand which we expect to create at least 10 new jobs as part of a total of around 30 jobs across the development.
“They have been attracted by the location on the A164, convenient for all the west Hull villages and beyond, and by the quality of the property which will bring significant cost benefits as a result of our eco-friendly upgrade and our commitment to renewable energy sources.
“The acquisition takes the level of investment by Allenby Commercial in the Trade Yard concept into seven figures and underlines the company’s commitment to provide quality space which will help other businesses expand and drive job creation.
"It’s a winning formula which is working very well at Scunthorpe, where all the units are occupied, and at Beverley, where demand for space is increasing.”
Trade Yard Scunthorpe has facilitated the creation of around 40 jobs since opening in 2017. Tenants include Toolstation, Howdens Joinery, Valley Carpets, Motor Parts Direct, Hayley Group and MKM Building Supplies.
Around 50 jobs have been created at Beverley Trade Yard which opened in 2016.
Tenants now include Hodgsons Sealants, Derbybeech modular buildings, Screwfix, Topps Tiles, Bartoline, ATD Automotive, Oaks of Beverley, Bee Interiors and Prestige Decorators.
