Friday, August 1, 2008

News: Rotherham development highlights niche in property market


The Yorkshire Post reports that decommissioning specialist, Euro Decommissioning Services (EDS), has established a property division to take advantage of a niche in the property market. Loxley Land and Property (LLP) will be headed by Eldon Stevens, the former development director of Velocity Estates in Sheffield, as it looks to take advantage of the current market conditions. EDS specialises in working on high risk sites and over the past few years, the company has taken a new direction into cleaning up post-demolition land for redevelopment. One such site is the site of the former rolling mill at Templeborough in Rotherham which has been transformed into the Magna 34 Business Park. The £31 million joint development with Jaguar Estates saw the developers manage the whole process of the development, from demolition, remediation, planning, securing an Objective One grant of £2.7m and managing the build contract. Patrick Herbert of Jaguar Estates recently told The Chamber: "The site was known for the old rolling mill which was a local landmark and this has been replaced with a range of offices and industrial and a large distribution warehouse which provides a significant statement itself. The scheme will create a huge physical and economic impact for the area, greatly enhancing the corridor between the M1 motorway and Rotherham town centre. We expect around 600 jobs to be created once the development is complete."
Magna 34 website
Yorkshire Post article
The Business Desk article


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