Friday, January 20, 2017

News: Future phases for Vector 31

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Hundreds of new jobs would be created if a successful Rotherham commercial development is extended into the Green Belt.

Network Space (formerly known as Langtree) has delivered over 160,000 sq ft of industrial space across two phases at its Vector 31 development at Waleswood. The first phase was fully occupied within 12 months of completion in 2008 and the total site was fully let a few years after. Occupiers include Hermes, Preformed Windings and CCPI-Europe.

Discussions are now ongoing with Rotherham Council through the authority's local plan examination on the potential for more phases at the site which is close to Junction 31 of the M1.

"Vector 31 West" could be created on a 8.8 Ha parcel of land to the north of Wales Bar on the west side of Mansfield Road (A618) that the developers want to see come forward for employment use. The site has been backfilled following open cast coal mining operations and development platforms have already been created.

An illustrative masterplan which demonstrates how the site could be developed shows that the site provides the opportunity to deliver approximately 215,000 sq ft gross of employment space.

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The Council has also proposed the release of nearby Green Belt land to the North of School Road / Off Waleswood Way behind the cricket pitch, and its allocation for use for business and industry.

Network Space is supporting this proposal and have outlined that further land could be released for employment use to create a 20.7 hectares site that is currently comprises agricultural land located between the M1, Waleswood industrial area, the railway line and woodland.

This proposal is complicated by the realigned route of HS2 which cuts through the site as it runs alongside the M1.

Property agents at Knight Frank, who are acting for Network Space, consider Vector 31 to be "one of the region's sought after industrial locations." Representations submitted as part of the local plan examination state: "Vector 31 is an ideal location for employment at Junction 31 of the M1 Motorway, accessed via the A57 dual carriageway, allowing the site to capture both local and regional requirements as well as national occupier requirements looking to enter into the area. They consider that the success of the location has been proved with the success of the initial phases at Vector 31."

Rotherham Council appears receptive to an extension to Vector 31. Plans are being progressed for £1.2m of transport improvements to support the proposed £37m leisure development adjacent to Rother Valley Country Park and new employment land. Council officers believe that job creation linked to Gulliver's Valley and Vector 31 is estimated at up to 850 new jobs.

Network Space is a commercial property investment, development and management group and following a restructure and rebranding in June 2015 the group has focused its operations on the industrial property market. Pre-tax profits for last year hit £19.2m, more than doubling the previous year's result.

Network Space website

Images: Network Space / Spawforths


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