Wednesday, August 2, 2017

News: Next phase of Vantage Park comes into view

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Work has begun on the latest phase of a Rotherham developer's multi-million pound business park in Sheffield offering industrial and manufacturing use.

E V Waddington Ltd, a specialist in brownfield development, secured a £1.9m investment grant for the next phase at Vantage Park where units totalling 110,000 sq ft are currently being added to the site offering new high quality employment space for SME occupiers as part of the plan to transform the former brownfield land into much needed space for industrial and manufacturing growth.

A leader in speculative development, Waddington provides the region with industrial, commercial and office accommodation to let. The first 70,000 sq ft was completed in late 2015 thanks to £1m investment, also from the European Regional Development Fund (ERDF). It is home to Ventilation Direct, Maxwell Chocolates and M J Wilson.

Cllr. Mazher Iqbal, Sheffield City Council's cabinet member for business and investment and Mizan Rouf, investment manager at Creative Sheffield toured the site recently with Tony Waddington and property agents Knight Frank to check on progress.

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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: "Vantage Park has already proved itself as a viable business location with the first development there proving extremely popular.

"Having the right commercial property offer is essential to support existing companies and this new phase will continue to support existing companies wishing to expand and to attract new companies to locate in the Sheffield City Region.

"The units, which will be available individually, or can be combined to accommodate larger requirements, will be available to let at £4.75 per sq ft pa and boast 6.5m eaves, connections to all mains services, fitted offices and very good BREEAM rating for reduced energy consumption and low running costs."

In a recent report, Knight Frank said that it expects that rents in the region will continue to grow with more speculative development being delivered as occupiers demand higher quality stock.

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

The aim of the fund is to help local areas stimulate their economic development by investing in projects which will support innovation, business investment and growth, employment creation and support for local community regeneration.

As well as Vantage Park, E V Waddington Limited has already delivered successful industrial developments at Shortwood Industrial Estate, Barnsley and the popular Aldwarke Business Park and Chesterton Court Industrial Estates in Rotherham.

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.

Waddingtons website
Knight Frank website

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