Member Article

£1 million funding creates new Sheffield industrial park

£1m funding from the European Regional Development Fund (ERDF) has allowed the speculative build of a new industrial park in Sheffield.

Construction work has begun on Vantage Park, a new multi-let business park on Sheffield Road in Tinsley, to cope with increased demand for manufacturing, industrial and warehouse use.

South Yorkshire investor E V Waddington Limited is developing the 10 units ranging in size from 4,575 to 13,562 sq ft in the already established commercial location home to occupiers including Tata Steel, The Symphony Group and Parcel Force.

The flexible units, which are available individually or can be combined to accommodate up to 36,760 sq ft from Spring 2015, front onto Sheffield Road close to junction 34 of the M1.

Rebecca Schofield, partner at the Sheffield office of Knight Frank who helped provide market advice to secure the grant and which is marketing the development, said: “There is now a shortage of small to medium sized good quality stock throughout the South Yorkshire region.

“We have seen sustained demand from the industrial and manufacturing sectors which the development at Vantage will cater for.”

The units are being developed within Sheffield City Region Enterprise Zone where capital allowances are available to qualifying occupiers.

Rebecca added: “The units have been designed with the utmost flexibility and are suitable for manufacturing, industrial or warehouse use.”

Knight Frank worked with Sheffield-based Hera Regeneration to provide market and consultancy advice in respect of securing the grant allowing the site to be developed speculatively. Rotherham property company, E V Waddington Limited has already developed Shortwood and Aldwarke Business Parks and Chesterton Court in Rotherham.

The first phase of Vantage Park, which is located just half a mile from J34 M1 and is easily accessible from J33 M1, will be available for occupation and lease at just £4.75 per sq ft per year. Knight Frank is currently working closely with Creative Sheffield to secure occupiers. For further information contact Rebecca Schofield at Knight Frank on 0114 272 9750.

This was posted in Bdaily's Members' News section by Agent Public Relations .