Tuesday, June 18, 2024

News: Rotherham development fits the bill for national energy firm


British renewable energy group Octopus Energy has taken the largest unit at Mirastar’s flagship development, Sheffield Catalyst.

The Catalyst development is on the part of Sheffield Business Park which is within the Rotherham borough boundary, close to the Parkway. It has been built on a 17.9-acre site that was previously kept in the green belt when Sheffield City Airport was in operation. Developer Premcor Estates, together with joint venture partner, Peveril Securities sold the development for an undisclosed sum last year.

A relative newcomer, Octopus only started out in 2016 and now supplies over six million homes in Britain with a focus on customer service and green technology. Last year it was announced that existing investors would deploy $800m in a funding round, valuing the company at almost $8 billion. Octopus said that the investment was expected to create 3,000 green jobs in UK alone in 2024.

Octopus has taken 91,923 sq ft in Rotherham and is expected to use the warehouse for its Octopus Energy Services part of the business which is spearheading the transition to greener, cheaper energy through the installation of in-home technologies; from smart meters and electric car chargers; to low carbon heating, home batteries, affordable heat pumps and solar panels.

Rothbiz reported in April on a new Solus Vehicle Accident Repair Centre opening at the Catalyst development. Solus is wholly owned by Aviva and operates a nationwide network of vehicle damage repair centres.

Both companies join surfaces specialist Cosentino and UK award-winning commercial supplier JLA Group. Cosentino relocated into a 33,608 sq ft unit while JLA Group expanded into 109,166 sq ft on site.

Just one unit of 28,309 sq ft remains available through agents Knight Frank, GV & Co and M1.

Henry Watson, partner at M1 Agency, said: “These lettings demonstrate where Catalyst sits within the market of Sheffield. From inception we set out to provide a best in class product which suited the needs of occupiers and we have been rewarded for our confidence in the product with market leading transactions across the development.

“The unprecedented growth in demand for last mile solutions shown in the wider South Yorkshire conurbations has been triggered by the rise of the convenience economy driven by mobile technology. Proximity to customers is becoming ever important as goods need to be moved quicker and more often, intensifying the demand for space in last-mile locations such as Catalyst Sheffield.”

The remaining unit is finished to a high specification with high quality office space suitable for head offices and benefit from excellent ESG credentials including EPC rating ‘A’, minimum BREEAM rating of ‘Very Good’, PIR controlled LED lighting to the offices, a rooftop solar PV system, and extra natural light through translucent wall panels and roof lights.

Rebecca Schofield, partner and head of the Yorkshire industrial team at Knight Frank, said: "Catalyst is ideally located fronting Sheffield Parkway, its high-quality specification and ideal location has resulted in the success of the scheme with all the occupiers new inward investors which is a great result for the scheme and region."

Rob Brophy of Mirastar, added: “Sheffield Catalyst is an important scheme to deliver much needed new industrial warehouse facilities benefiting from excellent ESG credentials and unrivalled prominence and access via the Sheffield Parkway and the M1 Motorway.

“Catalyst represents a continuation of our clear strategy and vision across our portfolio by developing best in class facilities with market leading ESG credentials.”

Daniel Walker at GV&Co, added: “Catalyst, Sheffield Business Park continues to go from strength to strength. This recent letting continues the success on the scheme with another household name and highlights the benefits the development offers to occupiers from both a location perspective and specification of the units. We have good interest on the final units but are happy to discuss any live requirements if occupiers need more information.”

Images: M1 Agency


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