Friday, July 22, 2011

News: St Paul’s Developments continues to create job opportunities in Rotherham


South Yorkshire development company, St Paul's Developments, has reported strong occupier take-up levels across its portfolio and unveiled plans to drive forward regeneration projects in the region.

Deals have been concluded for around 230,000 sq ft of design and build pre-lets/pre-sales, signalling excellent news for the recovering property market and the region's job prospects. One development alone, Brookfields Park, in Rotherham has already secured some 1,800 jobs.

The company has revealed a staggering £21m turnover in a single day this April and their success over the last 24 months has resulted in building contracts placed with Yorkshire-based contractors of circa £10m along with regular employment of regional project teams. Future projects aim to create further opportunities to enhance the local and broader economy and contribute to the long-term recovery of the property market.

Highlights at Brookfields Park include pre-let warehouse, factory and office facilities of 105,000 and 83,000sq ft to Pegler Yorkshire Group and Thetford Ltd respectively.

Another key site contributing to their success is Cortonwood Retail Park in Rotherham which the company forward-funded and subsequently sold into the Enterprise Zone Tax investment market for £13m. The majority of the park is pre-let to occupiers such as Dreams and Smyths Toys with a 7,500sq ft unit available. A future project for the developer is a 250 unit residential scheme at Cortonwood for which detailed planning consent has been secured.

David Newton, managing director of St Paul's Developments, said: "We have always taken a longer-term view on the majority of sites within our portfolio and this, along with careful management, has enabled us to maintain a positive outlook throughout the challenging economic climate.

"Our commitment to the regeneration of South Yorkshire is as strong as ever and we are delighted to have been able to create local jobs through the construction of pre-let units, allowing local companies to improve the quality of their buildings. Looking ahead, we are confident that market recovery will facilitate continued development across the region and we look forward to delivering further opportunities through our work in this arena."

St Paul's Developments website

Images: St Paul's Developments


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