Wednesday, October 28, 2015

News: "Mayfair" property on the AMP

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Property on the "Mayfair" of advanced manufacturing is coming on to the market with construction well underway on new units at the Advanced Manufacturing Park (AMP) in Rotherham.

The UK's premier advanced manufacturing technology park is home to world-class research and manufacturing organisations such as the University of Sheffield, Boeing and Rolls-Royce and smaller, emerging companies developing the next generations of cutting-edge technology.

Following his visit to the city region in January, American economist Bruce Katz, vice president of the Brookings Institution and former advisor to President Obama, said that the AMP can be referred to as "the elite "Mayfair" address for advanced manufacturing."

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The highly successful AMP Technology Centre is currently undergoing a third multimillion pound expansion. Providing incubation space on the AMP, the centre has been designed to accommodate a range of manufacturing-related activities, from fledgling engineering and technology companies, to University spin-offs and subsidiaries of established companies.

Initially developed by Yorkshire Forward, the AMP Technology Centre is now operated by Creative Space Management on behalf of the Homes and Communities Agency.

Construction firm, Britcon are close to completing the third building on the site - a further 32,291 sq ft facility that will include five split level workshops with shared office space.

It is currently available for pre-let with high spec offices and workshops ranging in size from 1,093 to 3,651 sq ft with communal kitchen, toilet and shower facilities.

The building is located within an Enterprise Zone which provides business rate relief. As are proposed units as part of Phase 2 of the successful R-Evolution development on the AMP.

In March 2014, landowners and developers, Harworth Estates, signed a £4.3m forward-purchase agreement with Rotherham Council for Plots 3 and 4 of the development on the Waverley site.

The deal unlocked a £2.7m loan from the Sheffield City Region Joint European Support for Sustainable Investment in City Areas (JESSICA) Fund, which was set up to support infrastructure and real estate investment opportunities across the region. It was used to pay for infrastructure works and the construction of new manufacturing units at R-evolution.
X-Cel Superturn, Maher and Nikken Kosakusho Europe have all take space on Phase 1.

A planning application is to be submitted shortly in respect of Phase 2 which would be for two more units, both of which could be subdivided to make four units in total. The units would be from 11,000 to 26,000 sq ft and Colliers and LSH have been advertising the property.

There is around 50 acres that remain to be developed for employment use at Waverley. A larger development of up to 300,000 sq ft, called "AMPlify" is predicted on a further 21 acres.

There are currently around 700 people employed at the AMP, with the potential for over 2,000 new jobs to be created through further development.

AMP Technology Centre website
AMP website

Images: HCA / Harworth Estates

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