Leading Yorkshire commercial property developers Sterling Capitol have sold a prime 14-acre site at Capitol Park Barnsley to Commercial Development Projects (CDP), the development arm of the Marshall Group.
The site, which comprises the final phase of Capitol Park Barnsley, has full planning consent for two major industrial and distribution units, one of 84,000 sq ft and one of 105,000 sq ft, with a gross development value of over £30,000,000 once fully completed.
CDP’s intention is to speculatively build both units with work starting on site this spring, following their previously successful development at Capitol Park Barnsley.
Sterling Capitol has a rich 30-year history at Capitol Park Barnsley, having delivered in the 400,000 sq ft of commercial space and created in the region of 500 jobs in the process. This final phase has been in the pipeline since 2008, with Sterling having secured an allocation in the Local Plan, followed by subsequent outline and reserved matters planning consents.
Tom Brown of Sterling Capitol commented: “Sterling are pleased to have concluded another deal with CDP. We have worked tremendously hard to ensure that this site is oven ready for development. We are delighted to be handing it over to one of Yorkshire’s most respected and successful property companies, who, due to its excellent location and specification, will be looking to develop it speculatively.
“Capitol Park Barnsley has been one of the jewels in our crown. The park is now recognised as a first-class location for business with blue chip occupiers and their businesses having a very significant impact on the local economy, contributing to a very prosperous future for Barnsley and I am sure these two units will be very well received by the market.
“We wish CDP well. There is no doubt that there will be strong demand for these new units, given the proximity to Junction 37 of the M1 and the proven location of Capitol Park, Barnsley. South Yorkshire is now a favoured region for distribution and logistics, which support the decision of CDP to build speculatively,”
“The journey for Sterling Capitol doesn’t stop here in Barnsley though, as we now direct our focus to the delivery of our largest site to date, Barnsley West, where we will be looking to deliver in excess of 1.2 million square feet of commercial space in the coming years.” he added.
The value of the sale was not disclosed.
Rebecca Schofield, partner and head of Knight Frank’s Yorkshire Industrial team, commented: “The units will benefit from a fantastic specification and will offer an opportunity for occupiers to create a bespoke commercial premises to suit their own exact requirements. There remains a good level of demand in the area and this sale has come at an opportune time to capitalise on current market conditions.”
Capitol Park Barnsley has enjoyed great success since it was first bought by Sterling Capitol in 2008 and then developed out. High profile occupiers include: An NHS 75,000 sq ft bespoke blood facility; Gem Imports; Sheffield Children’s Hospital; SolarFrame; Hargreaves Services and a Toby Inn and Ramada Encore hotel.
The Yorkshire office of global property consultancy Knight Frank has been retained as letting agents.
