News: CBRE to market last two plots on Brookfields Park

The Industrial Agency team at CB Richard Ellis, Sheffield has been instructed by St Paul's Developments and Tritax Assets on the remaining nine acres of industrial / warehousing and office opportunities at Brookfields, Rotherham.

The 85 acre site has been transformed into one of South Yorkshire's most successful regeneration schemes with high profile occupiers Next Group Plc, Garnett Dickinson, Maplin Electronics and Pegler Yorkshire Group operational within circa 1.6M sq ft of industrial and office accommodation.

The successful development of Brookfields has already resulted in over 1,800 jobs being delivered to the region with potential for an additional 300.

The strategically positioned Dearne Valley site benefits from protected Enterprize Zone status ensuring substantial financial benefits for occupiers via 100% capital allowances.

CBRE will market the remaining two sites which span nine acres and can accommodate in the order of 180,000sq ft of bespoke industrial/warehouse or office accommodation.

Toby Vernon, Senior Director, CBRE Sheffield, said: "Brookfields is one of the region's most acclaimed developments, evidenced by the high-profile occupiers it has already attracted and the substantial contribution subsequently made to the local and regional economy.

"The financial benefits resulting from the extended EZ status are unrivalled and will undoubtedly prove to be a key factor in attracting new occupiers. This, combined with an immediately deliverable site, a simplified planning process and a proven and reputable development team makes this site a unique offering in the market.

"We are looking forward to working with St Paul's Developments and Tritax to ensure the continued success of this scheme."

Managing Director of St Paul's Developments, David Newton, added: "We are incredibly proud of the success of Brookfields and are committed to bringing further inward investment to the region through the remaining opportunities at the strategic site.

"Having enjoyed a successful working relationship with Toby Vernon and Roger Haworth for many years, I am delighted to be welcoming them on board at Brookfields and am confident that our strong team can work with occupiers to deliver the development of these last remaining plots."

St Pauls Developments website
CBRE website

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News: Phase 1 fully let at Paragon Point in Rotherham

Acting on behalf of The Derbyshire Group, the Industrial Agency team at CB Richard Ellis has secured a new letting at Paragon Point in Rotherham, signaling the full occupation of the four unit scheme which extends to 24,000 sq ft in total.

WRL, a nationwide recycling company, has signed a five year lease for the final 6,000 sq ft unit joining existing tenants technology company Metalysis (Unit 2) and Same Day Beers (Unit 3 &4).

Phase 2 of the Dearne Valley industrial scheme which is ideally situated between Junction 36 of the M1 and Junction 37 of the A1 comprises a high quality 25,000sq ft industrial / warehouse unit which is available for immediate occupation on very flexible terms.

Dave Cato, associate director of industrial agency at CB Richard Ellis, said: "The high quality of units and flexible terms offered has attracted occupiers to Paragon Point resulting in the successful completion of the first phase.

"We are now inviting interest in Phase 2 and look forward to welcoming yet more occupiers to this strategically-linked development."

CB Richard Ellis is joint agent with Knight Frank on Paragon Point.

Paragon Point website

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News: CBRE completes £9.5m Rotherham acquisition

Acting on behalf of an in house fund of Invista Real Estate, the Capital Markets team at CB Richard Ellis in Leeds has acquired the 67,000 sq ft Cyan House building in Rotherham for £9.5m, reflecting a net initial yield of 8.5%.

Cyan House, which is situated in the Dearne Valley is occupied by the Royal Bank of Scotland who have approximately 11 years remaining on their lease.

Associate Director of Capital Markets at CB Richard Ellis in Leeds, Robin Bullas, said: "The investment acquisition of Cyan House represented an excellent opportunity for the client to acquire a signature building with good quality long-term income from a very strong tenant, RBS.

"The significant transaction demonstrates a continued return in confidence in the 2010 Yorkshire investment market."

The RBS group moved their Lombard business across Rotherham to the state-of-the-art building at Adwick Park in 2007, relocating around 600 staff.

Last month RBS announced 3,500 job losses in the UK with the closure or withdrawal from 12 UK centres with a further three centres under review. They announced that the centre in Rotherham is set to be retained.

CBRE website

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News: World's largest real estate firm lands in Sheffield

Following the acquisition of industrial agency experts M3 Agency LLP in May, CB Richard Ellis, the world's leading property adviser, has launched its newly branded Sheffield office which, with the largest market share in the region, is set to capitalise on the recovering market.

CBRE's new Sheffield office is headed up by industry experts Toby Vernon and Roger Haworth who work in conjunction with colleagues from CBRE's Leeds office on instructions covering the whole Yorkshire region in addition to the North Midlands and the North East.

Commercial property instructions in Rotherham include 152,000 sq ft of space at Magna 34 in Templeborough and 50 acres at The Advanced Manufacturing Park (AMP).

The addition of a dedicated industrial specialist within the capital markets team boosts CBRE's already strong regional investment market presence.

Roger Haworth, Senior Director, CBRE Sheffield, said: "As we move into the third quarter of 2010, we are witnessing positive signs of recovery within the regional industrial and logistics market with 1.3m sq ft of take-up in the last month alone from deals such as ASOS at Crossflow, Barnsley who have taken a 530,000 sq ft distribution centre, MTL Group at J34 in Rotherham and Amazon who have signed up on 415,000 sq ft in Doncaster.

"This signals a positive start in terms of an upturn in the market as enquiry levels are currently good for the larger available stock. The lack of new space coming to the market will increase competition for existing stock resulting in improved rental values and the eventual return of new development within the region."

Toby Vernon, Senior Director, CBRE Sheffield, added: "Due to the combined strength of CBRE's Yorkshire industrial capabilities we are well positioned to identify opportunities for clients to capitalise on the recovering market.

"Our strategy moving forward is to continue to provide market leading advice to our broad client base which covers all spectrums of the industrial sector from small scale developments to large distribution facilities.

"We will be working with a number of key clients to identify new development opportunities to cater for the next phase of pre-let/pre-sale led business."

CBRE website

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News: Barbot Hall industrial units sold

Acting on behalf of CBRE Investors, the capital markets team at CB Richard Ellis in Leeds has sold six industrial units totaling 27,000sq ft at Barbot Hall Industrial Estate in Rotherham for £700,000.

An unnamed local investor has purchased the units, two of which are occupied by a chemical manufacturing firm, one occupied by Sky and three vacant units with the intention of undertaking a refurbishment programme to give the accommodation a new lease of life.

Robin Bullas, Associate Director for capital markets at CB Richard Ellis in Leeds, said: "This sale presented a good investment opportunity for the local investor given that 55% of the income is secured until 2015. We are witnessing renewed confidence in the investment market throughout the region and this latest deal is testament to the opportunities that are currently available within the marketplace."

Last month, 20 units on the Thornhill Industrial Estate in Rotherham sold at auction for £1.53m.

CBRE website
Rotherham

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