Knight Frank - Industrial Development - South Yorkshire
Date: 12 Aug 2008
Sheffield and Rotherham are continuing to witness continued demand for good quality accommodation in new business park developments despite the current market climate.
New, high quality industrial accommodation in one of the country's best transport hubs have placed South Yorkshire as a top location in the North for high quality small to medium size businesses to relocate to as well as a base for existing South Yorkshire companies to upgrade and expand into.
Business parks like Vector 31, Ignite@Magna, Magna 34 Business Park and Redwood Court in Dinnington have become a focal point for companies wanting a prime accommodation on both a freehold and leasehold basis in a good location with access to a local and available labour market.
Now, according to commercial property consultancy Knight Frank, these areas are continuing to reap the rewards from the quality and ideal positioning and are now home to a number of well known occupiers.
Rebecca Schofield, associate in Knight Frank's Sheffield office and agent for all four business parks, said: "New high quality development sites across the region are still attracting good levels of demand.
"The take up of quality product continues. If we look back 12 months ago we saw predominantly freehold uptake due to availability and relatively low cost of funding however since we have seen the finance market tighten, we are seeing the balance between leasehold and freehold more evenly spread."
Knight Frank reports a good level of interest at the 19-acre Magna 34 Business Park, adjacent to Magna Science and Adventure Centre, with 27,000 sq ft under offer to a storage company and three units of 2,700 sq ft under offer to a single occupier.
An impressive take up at Ignite@Magna has seen six out of eight newly finished semi-detached and detached units either sold, let or under offer to companies including Blue Tree Print, ETA Enclosures and Comis Orthopaedic while practical completion of units at Vector 31 have seen a 20,000 sq ft unit sold to ceramic technology company CCPI Europe with two further units under offer.
Redwood Court, comprising 15 high quality units offering industrial and warehouse accommodation totalling 60,902sq ft, has become an ideal base for new start up businesses and existing Rotherham based companies to take space with its practical leases and flexible tenancy agreements.
Most recently a trio of companies have made the development, built on the former Dinnington Colliery, their new home with the latest arrival being Leamington Spa-based business communications and event management consultants Dobson White Partnership which has expanded to open a new base at the business park.
They join print and design company 1 Click Print, which has relocated from Sheffield city centre, and high security products and services specialists EM Security which has opened another UK-based branch, as the latest tenants at the new £4.5m industrial park. Remaining units range in size from 1,500 to 9,800 sq ft immediately available for occupation.
Rebecca Schofield added: "Massive regional investment at the former Dinnington colliery location has liberated prime-sites which have drawn in both major companies such as Johnston Press, Macalloy, Centrepac and Manor Motor Sport as well as smaller relocations and expansions - all choosing the ease of access and superb motorway links which will serve the Redwood Court project."
Redwood Court
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