Monday, April 24, 2017

News: Rotherham developer set to start on £6.3m scheme

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Rotherham-based developer, E V Waddington Ltd, specialist in brownfield development, has secured a £1.9m investment grant for the next phase of its successful Vantage Park scheme.

A leader in speculative development, Waddington provides the region with industrial, commercial and office accommodation to let.

Waddington will press ahead with a £6.3m, 110,000 sq ft expansion that will provide new high quality employment space for SME occupiers following £1.9m investment grant being approved from the European Regional Development Fund (ERDF) managed by the Department for Communities and Local Government.

Vantage Park at Tinsley in Sheffield has previously secured ERDF for the successful fist phase which secured lettings from Ventilation Direct, Maxwell Chocolates and M J Wilson.

Phase 2 will provide a total 15 units of mixed sizes from 4,785 to 9,565 sq ft. Work is due to begin this month with the first units ready for occupation in July with a further two buildings starting in October.

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Sir Nigel Knowles, Chair of Sheffield City Region Local Enterprise Partnership (LEP), said: "The project forms part of the Local Enterprise Partnership's drive to increase inward investment and private sector jobs. 

"In order to support our existing companies to expand and attract new companies to locate in the City Region, having the right commercial property offer is essential. The development is very good news and will help bolster the attractiveness of this strategically important area within the Advanced Manufacturing Innovation District. 

"The role of ERDF has been crucial in providing funding for this speculative scheme to enable it to progress and support the wider regeneration of City Region."

Rebecca Schofield, partner at the Sheffield office of Knight Frank, which acted for E V Waddington and helped provide market advice to secure the ERDF grant, said: "The development is the second phase of the successful Vantage Park which has grown into an established commercial location.

"This type of modern industrial unit is exactly what is needed in the area and the success of the first phase shows that speculative development is worth doing here and businesses see the value of being located in Tinsley with its outstanding motorway links.

"The units, which will be available individually, or can be combined to accommodate larger requirements, are suitable for manufacturing, industrial and warehouse use."

ERDF funding was secured for both phases on EV Waddington’s behalf by Paul Mercer of HERA Regeneration.

Evolving from a timber merchants, the Waddington's property portfolio was started approximately 80 years ago with the acquisition of a number of properties alongside South Yorkshire's canals network and was added to along the years with a number of investments and land acquisitions.

Other local developments from EV Waddington include a new development on the Eastwood Trading Estate, Aldwarke Wharf and on the former colliery site at Dinnington. Plans for speculative development at Forge Way near to Pargkate have also recently been submitted.

Waddingtons Property website
Knight Frank website

Images: EV Waddington


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