Priority Space

Work nearing completion on Hull retail development


Pictured left to right: Barry Dillon (regional development director for Yorkshire at Together) Lee Buchanan and Adam Richardson (directors at Priority Space), Jonathan Sally (corporate lending director at Together).

Work is nearing completion on Monks Way Retail Park in Hull, supported by a £1.5m commercial loan from specialist lender Together.

Ten shops at the retail park on Wawne Road, Kingswood, are set to be finished by early August.

We approached Together to buy the land and build the shops, which will range from 470 sq ft to 2,880 sq ft.

Together provided a short-term loan secured against land to the west of Wawne Road. Hull City Council had already granted planning permission for the units.

Barry Dillon, regional development director for Yorkshire at Together, said: "Once completed in the next few months, this will be a really impressive scheme.

"We have worked closely with Priority Space and other partners involved in this project to provide the fast and flexible finance package they needed to turn this area into a vibrant regional commercial and residential hub."

Monks Way Retail Park is part of a wider £2.5m development designed to create jobs and help businesses grow.

The mixed-use retail development is part of a partnership between the council and property consortium KSHP - made up of housing developers Keepmoat, Strata Homes and Persona - part of Home Group - as well as Priority Space.

Once complete, the development will include a One Stop convenience store, a veterinary practice, pharmacy, bakery and takeaways, plus a family restaurant. It will also include an extension at nearby Broadacre Primary School, two new public parks and a new nursery.

Adam Richardson, director at Priority Space, said: “Working with Together enabled us to get this speculative retail scheme off the ground. The Together Group understood our aims and objectives and saw the potential of the site which many other funders had overlooked.