The Cole Waterhouse and Henderson Park joint venture, to redevelop the former Kellingley Colliery into the Konect62 logistics estate, has come to an end.

29 Jul 2025

The joint venture, set to build 1.4m sq ft of logistics warehouse space with an end value of £250m was set up in 2021, but following the successful completion of the first phase, Henderson Park have repaid the equity invested to date and have taken full control of the estate.

Cole Waterhouse exits the scheme after having completed the first phase, which comprises 375,000 sq ft of speculatively developed logistics space over three units. The partners secured three major lettings over the course of 2024.

In May 2024, TIP Group – the market-leading provider of rental, leasing and equipment services to the transportation and logistics sector – signed up to a 10-year lease for a 2.5-acre open storage plot to expand its operations in the surrounding area and beyond.

Following this maiden deal, a second letting was secured in June 2024, just weeks after the first. Oakland International committed to a 15-year lease on the 161,860 sq. ft. unit. The leading chilled and frozen food logistics company invested in the site to better serve its UK customer base by expanding its multi-temperature supply chain network.

The third letting of the year went to family-owned haulage business, Campeys of Selby, which agreed a 10-year lease on the 61,065 sq. ft. warehouse. The unit includes first-floor office space, a 45m deep service yard and 148 car parking spaces with eight EV charging points.

There is also planning permission in place for a single-unit warehouse of up to 735,000 sq ft, nicknamed “the Big K” after the previous informal nickname for the operational mine.

The Phase 2 planning application, submitted by the joint venture in early 2024 proposed a further 802,000 sq ft of logistics space to be built across several units, ranging from 4,000 sq ft to 375,000 sq ft, with a target rating of BREEAM Excellent.

After first agreeing to acquire the scheme in 2021 from Harworth PLC in a £54m deal. The joint venture used a development loan from Bentall Green Oak (BGO), secured in 2022, for the purchase and opening phase.

The site is around 20 miles from Leeds and is near the intersection of the A1(M) and M62. The tri-modal site benefits from road, rail and canal access.

Cole Waterhouse wish Henderson Park and the Konect62 scheme all the best in the future and hope to see this landmark development fully occupied and operational soon.