ABP is to take control of a 900,000 sq ft Immingham logistics and port-user development.
Associated British Ports (ABP) has bought a 50-acre site close to the Port of Immingham in a deal with Brocklesby Estate.
Units will range from 475,000 sq ft to 20,00 sq ft. Construction will begin next year.
The site at Kings Road in Immingham is part of the Humber Enterprise Zone, so business rates relief and business rates discount will be available for qualifying businesses.
Duncan Willey, divisional director at PPH Commercial, and letting agent for the site: "This is the largest site to be sold in the area this year. It’s a strategic site, located close to the UK’s largest port with good road access to the A180 and M180.
"It will help to meet the pent up demand for industrial units, possibly office accommodation and haulage related uses in the area."
The deal come as ABP invests £50m to double capacity at the ports of Hull and Immingham.
Nearly £30 million of the investment will go towards upgrading Hull Container Terminal including the purchase of four new Liebherr ship-to-shore cranes, two of which were delivered in 2016 with two more scheduled for delivery in 2018.
Meanwhile, Immingham Container Terminal, which also took delivery of a new Liebherr crane in 2016, will be further extended with major investment in new equipment and technology. Across the two ports, capacity will be more than doubled to allow them to handle around 550,000 units.
ABP Humber’s investment case is based on figures showing that across the Humber container terminals there has been a 41% growth in volumes since 2013.
Earlier this summer a 78.5 acre site, also part of the Humber Enterprise Zone, and close to Immingham port, came onto the market after plans for a biofuel plant were shelved.
The Portlimnk 180 site at Hobson Way, Stallingborough, is being promoted by Rula Developments.
PPH’s David Willey said: "The throughput to the port is increasing all the time but there is currently a lack of quality accommodation off the port estate, which will prejudice indigenous growth and inward investment if such accommodation is not made available for occupiers.