Wednesday, April 14, 2021

News: Rotherham development plots sold to joint venture - Catalyst coming


Development sites with the potential to create around 1,000 jobs in Rotherham have been sold to a joint venture between Premcor Estates and Peveril Securities.

Plans were approved in 2019 to enable the successful Sheffield Business Park to expand into Rotherham. "Phase 4" is planned for a 17.9-acre site that was previously kept in the greenbelt when Sheffield City Airport was in operation.

Premcor, a private UK based property development company, has joined with Peveril Securities, a wholly owned investment and development division of Bowmer and Kirkland, on its first ever South Yorkshire site.

Land between Europa Link and the Parkway is set to be transformed to create a prominent business gateway to the Sheffield city region's wider Advanced Manufacturing Innovation District (AMID), with the proposals including building footprints ranging from 10,764 sq ft to 107,649 sq ft of B1b (research and development), B1c (industrial process), B2 (general industrial) and B8 (storage and distribution) facilities.

Following the deal, for an undisclosed sum, the project has been renamed "Catalyst" and will be developed as a mixture of industrial and logistics units totalling 285,000 sq ft in a landscaped parkland setting. Designs are being submitted with construction work scheduled to commence in the third quarter 2021.

Graham Sadler, managing director at Sheffield Business Park, said: "Phase 4 is one of the last remaining development opportunities on the park which is well placed to serve occupier demand and help drive forward Sheffield City Region’s economic growth.

"We have an excellent working relationship with the commercial property team at Keebles and have utilised their high-quality real estate team for a number of years."

Rebecca Schofield, partner and head of the Yorkshire industrial team at Knight Frank, acted for Sheffield Business Park, and are retained agents with BNP Paribas on the scheme.

Rebecca said: "This site represents the last remaining plot of this size at Sheffield Business Park, easily accessible from Sheffield Parkway with convenient links to the north and south from the M1.

"The site and its development potential will address strong demand for industrial accommodation across the region as well occupiers looking to be close to the Advanced Manufacturing Park."

Led by Keebles’ Partner Richard Smith, the firm’s commercial property team acted as legal advisors to Sheffield Business Park. Richard said: "We were delighted to advise on the sale of Phase 4, which is in a prime position fronting Sheffield Parkway and close to the M1.

"It is always rewarding to advise on a deal which will bring further development opportunities to Sheffield, with some high-profile names having been based in the area for some time now."

Images: Premcor


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