| yorkshire region
MEADOWHALL BUSINESS PARK SUCCESS P
roperty investment & development company ARBA Group is recording high
levels of uptake for its multi-million GBP refurbishment of Meadowhall Business Park in Sheffield. The site features five low-level office
blocks converted from former Sheffield City Council buildings, to create 70,000 sq.ft (6,500sqm) of high specification office space with dedicated parking, 60 per cent of which has been let in the first quarter of 2017. Tenants
(l/r) Robert Eaton, Richard Burns and Andrew Allen - directors at ARBA Group.
including NG Bailey, Tuffnells Parcels Express and Preventx, cite the park's location, close to junction 34 of the M1 motorway but only a short commute from the city
centre, combined with comparatively low costs and a high level of amenities at nearby Meadowhall shopping centre as key to its appeal.
Richard Burns, director
at ARBA Group, said: “Meadowhall's development as its own commercial district is evolving rapidly and in line with the establishment of a new IKEA superstore and an extension to the shopping centre, demand for good office space with such a strategic location is only likely to increase. “We have fully let blocks one, three and
five at Meadowhall Business Park, with Tuffnells Parcels Express making the largest letting to date by securing 15,000 sq.ft, which is block one in its entirety.” Galaxy Insulation and Dry Lining
(Holdings) Ltd, North Midlands Construction Plc, Chique Photography, Auburn Ainsley, Eaton Commercial Property Consultants Ltd and Alpharooms are other tenants at the site. Meadowhall Business Park is located
less than one mile from junction 34 of the M1, two miles west of Junction 33 of the M1 and within six and twenty-five miles of the M1/M18 intersection and the M1/M62 intersection respectively. Developments at Meadowhall include
the construction of a new 370,000 sq.ft IKEA superstore - due to open end of
summer 2017, the £300 million expansion of Meadowhall Shopping Centre and the completion of new supercar showrooms for Porsche and Mercedez Benz. Richard added: “The key factor all our
tenants have cited is the location, as it offers all of the benefits of city-centre office space, without the associated costs. “We have set out to create a high
standard of finish to these units and the refurbishment of remaining parts of the site moves on at pace, so we are very optimistic that we will fill the site completely in due course. “The remainder of the site is still
undergoing refurbishment, we have exterior cladding to install on all five buildings, we are marketing space from 1,000 sq.ft to up to 15,000 sq.ft and can report healthy interest in the remaining space.”
SHEFFIELD’S VANTAGE PARK SECURES FURTHER £6.3M INVESTMENT A
£6.3m expansion to Vantage Riverside Business Park in Sheffield is
set to go ahead following agreement between developers EV Waddington Ltd and The Department for Communities and Local Government. The agreement gives the green light
to create an 110,000 sq.ft expansion that will provide new high quality employment space for SME occupiers following £1.9m investment grant being approved from the European Regional Development Fund (ERDF) managed by the Department for Communities and Local Government. Phase 2 will provide a total 15 units
of mixed sizes from 4,785 to 9,565 sq.ft and provide much needed capacity for industrial and manufacturing growth on this popular site within Sheffield, situated close to junction 34 of the M1 motorway. Work is due to begin this month with
the first units ready for occupation in July with a further two buildings starting in October. Sir Nigel Knowles, Chair of Sheffield
City Region Local Enterprise Partnership, said: “The project forms part of the Local Enterprise Partnership’s drive to increase inward investment and private sector jobs. “In order to support our existing
companies to expand and attract new companies to locate in the City Region,
96
having the right commercial property offer is essential. The development is very good news and will help bolster the attractiveness of this strategically important area within the Advanced Manufacturing Innovation District. “The role of ERDF has been crucial in
providing funding for this speculative scheme to enable it to progress and support the wider regeneration of City Region.” Phase one of Vantage Park in Tinsley,
which is now fully occupied, was completed in late 2015 by Rotherham property company and investor E V Waddington Limited thanks to £1m investment grant from the ERDF. The 70,000 sq.ft park, which includes
occupiers such as Ventilation Direct, Maxwell Chocolates and M J Wilson, has proved popular with tenants. Rebecca Schofield, partner at the
Sheffield office of Knight Frank, which acted for E V Waddington and helped provide market advice to secure the ERDF grant, said: “The development is the second phase of the successful Vantage Park which has grown into an established commercial location. "This type of modern industrial unit is
exactly what is needed in the area and the success of the first phase shows that
speculative development is worth doing here and businesses see the value of being located in Tinsley with its outstanding motorway links. “The units, which will be available
individually, or can be combined to accommodate larger requirements, are suitable for manufacturing, industrial and warehouse use.” The fully insulated units are available
to let at £4.75 per sq.ft pa and boast 6.5m eaves, connections to all mains services, fitted offices and very good BREEAM rating for reduced energy consumption and low running costs. ERDF funding was secured for both
phases on EV Waddington’s behalf by Paul Mercer of HERA Regeneration. For more information contact the Sheffield office of Knight Frank.
COMMERCIAL PROPERTY MONTHLY 2017
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116
