Tuesday, July 26, 2011

News: Onyx development attracts national names


JF Finnegan Construction has reached the halfway stage, well within timescale, on a six unit retail scheme in Rotherham for Onward Holdings. Two units are already under offer to major food chains Subway and Domino's Pizza.

Each to take 1,000sq ft units at the Onyx development at Manvers signalling early confidence in the retail and leisure scheme. Another of the 1,000 sq ft units is also about to go under offer for a hot food offering.

Andrew Miller Chartered Surveyors of Sheffield represented Onward Holdings in both deals, Colliers International acted for Subway and Domino's was unrepresented.

The 2.5 acre scheme resides within the larger 285 acre Waterfront regeneration scheme which is currently delivering over 1,100 new homes as well as complementary retail and leisure users. Planning consents in place for a total 17,500sq ft of retail and leisure space.

John Storey, property director at Onward Holdings, said: "The Manvers Way site’s strategic location and ongoing surrounding regeneration highlighted its suitability to accommodate a multi-unit retail and leisure scheme. Following the early interest from Subway and Domino’s we have been able to commence with works on site and are looking forward to welcoming additional occupiers in due course."

Gary Smith, director at JF Finnegan, added: "The six units we are currently constructing form the first phase of ONYX and they will be completed by August this year after which the occupiers' internal fit-out programmes can commence. The scheme will undoubtedly enhance the whole area and provide welcomed amenities to the residents of the surrounding residential schemes."

The construction of the scheme is being overseen by project manager Alastair Plant of Parkin Gerry Surveyors LLP. Phase 1 is underway and work on phase 2 could begin later in the year.

Andrew Miller who secured the lettings on behalf of Onward Holdings, concluded: "Key contributors to Onyx's success in attracting the high-profile chains is the broad range of consents in place and the excellent demographics. This is highlighted by the 94,000 population within a 10 minute drive of the scheme and the 18,000 passing vehicle movements each weekday. This, in addition to sensible lease terms and realistic rents, make it an attractive option for occupiers. Consequently, we are currently handling high levels of interest in the remaining units from a number of well known names."

JF Finnegan website
Onward holdings website

Images: brchamber.co.uk


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