Thursday, January 15, 2015

News: 31 East granted EZ status

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31 East, the next phase of employment land at the site of the former colliery at Dinnington, Rotherham, has secured Enterprise Zone status after the Homes and Communities Agency (HCA) and St Paul's Developments completed an agreement to create a 750,000 sq ft logistics hub that could lead to hundreds of jobs.

Rothbiz reported on the planned development in September and the 44 acre site on Todwick Road, adjacent to the existing 45 acre Dinnington Business Park, already has outline planning consent for industrial usage with plans determining that the site can accommodate a total 750,000 sq ft of logistics/warehousing space with the capacity to develop a single stand-alone building of 450,000 sq ft.

St Pauls Developments is a leading brownfield regeneration specialist and was formed in 1987 as the vehicle to acquire and reclaim the 72 hectare disused Cortonwood Colliery site in the Dearne Valley. It is now based in offices at one of its own developments in Templeborough.

The HCA, advised by CBRE, has appointed St Paul's Developments as development partner to deliver the major industrial and warehousing scheme, known as 31 East, which will be a welcome addition to the South Yorkshire property market where available stock is in extremely short supply. Commercial Property Partners (CPP) advised St Paul's Developments.

David Newton, managing director of St Paul's Developments, said: "We are delighted to have been selected by the HCA as development partner for this strategic site. St Paul's has a long and successful history of developing in Rotherham and also working with the HCA. With supply of stock in severely short supply across South Yorkshire, and a limited number of available sites able to accommodate occupiers seeking units in excess of 300,000 sq ft, 31 East is coming to the market at the best possible time."

Simon Herring, sales manager at the HCA, added: "St Paul's Developments has a strong track record for the delivery of large-scale regeneration projects across the region and we are looking forward to working in partnership to bring this exciting scheme to life. The site's access, capabilities and EZ benefits make it one of South Yorkshire's most exciting industrial opportunities."

The site already has an access road and utilities and will benefit from the recently completed £14.7m improvement programme on the dual carriageway at the A57 between the development and junction 31 of the M1. EZ status means that it can offer significant tax benefits to occupiers.

Appointed agents, CBRE and Commercial Property Partners (CPP) are now actively marketing the site.

Dave Cato, associate director at CBRE, said; "The well-documented shortage of supply within South Yorkshire is contrasted by increasingly strong demand as the market gains momentum and activity levels gather pace, particularly among industries such as manufacturing. We anticipate very strong demand for this site and are looking forward to opening discussions with potential occupiers."

St Paul's Developments website

Images: St Paul's Developments

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