Monday, February 2, 2015

News: Waddingon brings forward more spec development

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Rotherham investor E V Waddington Limited has secured £1m in European funding to construct further speculative development on Vantage Park, a new multi-let business park on Sheffield Road, just over the border in Sheffield.

A leader in speculative development, Waddington has secured £1m from the European Regional Development Fund (ERDF) to build ten units ranging in size from 4,575 to 13,562 sq ft in the already established commercial location from Templeborough to the M1 which is home to occupiers including Tata Steel, The Symphony Group and Parcel Force.

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Phase 1 totalling 33,000 sq ft of high-spec offices was completed in January 2008 and construction is now underway on the latest phase. The flexible units, which are available individually or can be combined to accommodate up to 36,760 sq ft, are set to be available from Spring 2015.

Rebecca Schofield, partner at the Sheffield office of Knight Frank (pictured, right), 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 have been designed with the utmost flexibility and are suitable for manufacturing, industrial or warehouse use."

As well as marketing the development, 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.

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

Waddington's local developments include Aldwarke Wharf, where the latest 41,000 sq ft units are set to be available this month and two units are already under offer; and Dinnington, where it acquired a parcel of land at the former colliery site from the Homes & Communities Agency (HCA) and is bringing forward further industrial units.

Knight Frank website

Images: Knight Frank

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