Tuesday, April 7, 2015

News: Harworth's second R-evolution

By

Harworth Estates has begun work on a development of high-quality, flexible industrial units, called R-evolution @ Gateway 36, on the site of the former Rockingham mining site, south of Barnsley.

One of the largest property and regeneration companies across the North of England and the Midlands, Harworth Estates is set to be completely owned by Coalfield Resources plc as terms have been agreed for a £150m deal. Based on its flagship development at Waverley in Rotherham, Harworth manages around 31,370 acres across some 200 projects, with consent for 8,000 new homes.

Advertisement

Harworth is working in partnership with Barnsley Council, which granted planning consent in March, on the development on 15 acres of land near junction 36 of the M1, off the Dearne Valley Parkway, which is designed to meet the region's rising demand for new industrial units.

The development has been directly supported by the council's Property Investment Fund and is set to create more than 450 new jobs. Funding for infrastructure works and the construction of the first three units has come from a £4.8m loan from the Sheffield City Region Joint European Support for Sustainable Investment in City Areas (JESSICA) Fund.

Campbell Carruth, director of Business Space at Harworth Estates, said: "We are delighted that we are bringing forward a high-quality scheme with Barnsley Council's support. There is a significant lack of new units of less than 50,000 sq ft in Yorkshire and R-evolution @ Gateway 36 addresses this need."

James Newman, chairman of the Sheffield City Region Local Enterprise Partnership, added: "This scheme epitomises public-private collaboration in our city region. I am pleased to see that local business is responding to market demand by bringing forward vital development."

It is the second time that Harworth Estates has successfully brought forward development in partnership with the public sector. On the Advanced Manufacturing Park (AMP) in Rotherham, a £4.3m forward-purchase agreement with Rotherham Council enabled the developer to unlock a £2.7m loan from the Sheffield City Region JESSICA Fund, which led to the first R-evolution scheme, a 117,000 sq ft speculative industrial development.

Alongside the Harworth development, key highway connections along the Dearne Valley Parkway (M1 Junction 36 along the A6135 to Goldthorpe) are set to be improved with new access roads along with the preparation of additional sites along the route. Access to Enterprise Zone sites are also set to be improved.

Harworth Estates website

Images: Harworth Estates

0 comments:

Sponsored by:
Members:
Supported by:
More news...

  © Blogger template Newspaper III by Ourblogtemplates.com 2008

Back to TOP