Friday, August 6, 2010

News: JF Finnegan sells Sandvik European Centre of Excellence in Rotherham


JF Finnegan has sold the 112,500sq ft Sandvik European Centre of Excellence (SECoE) at Beighton Link Business Park in Rotherham to Cordea Savills UK Income and Growth Fund for an undisclosed sum.

JF Finnegan secured the deal to develop the facility for the Swedish global industrial group last year in what represented one of the region's largest pre-let deals.

Sandvik signed a 15 year lease to create the SECoE, for which it received a £1.7M supporting grant from Yorkshire Forward.

The facility, which became fully operational in early 2010 and has a BREEAM rating of "very good", incorporates a 90,000sq ft workshop, 22,500sq ft of office accommodation over three floors and 150 parking spaces.

The centre has brought together all the finish processing and supply management activities for the production of orthopaedic implants and instruments from Sandvik's Sheffield facilities.

Philip Ryan, Chairman of JF Finnegan, said: "The sale of Sandvik's SECoE at Beighton Link is an excellent result for the scheme and further cements the development's position as an integral contributor to South Yorkshire's long-term regeneration."

George Tindley, Fund Director for the Cordea Savills UK Income and Growth Fund, added: "Since the launch of this Fund in January 2010 we have now spent over 50% of the initial equity raised. We continue to look for well specified buildings across all sectors which offer very strong covenants and long leases."

Crossland Otter Hunt acted for JF Finnegan.

Sandvik website

JF Finnegan website



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