Joint venture acquires flagship Sheffield industrial site

A joint venture between UK property development companies Premcor and Peveril Securities has secured its first ever South Yorkshire site with plans for 300,000 sq ft of industrial accommodation.

The partnership has bought the 18-acre phase 4 site at Sheffield Business Park – one of the last remaining development opportunities on the 200-acre development – for an undisclosed sum in a deal brokered by Knight Frank and BNP Paribas Real Estate.

Subject to planning, Premcor and Peveril will carry out the development of warehouse and industrial units on the park, which forms part of Sheffield City Region’s Advanced Manufacturing Innovation District and fronts onto Sheffield Parkway.

Simon Hawkins, director at Premcor, said: “The site sits in the heart of the Advanced Manufacturing and Innovation District between Sheffield and Rotherham. This is a strategically located site where there is already strong demand for high-quality industrial space.

“We are looking at attracting industrial, logistics, distribution and manufacturing occupiers, all of which are active in the market and are looking for prime industrial accommodation in a quality location.”

Ralph Jones, managing director at Peveril Securities, added: “We are confident of creating a scheme that will provide occupiers with the best place to locate to enable them to further enhance their businesses.”

Rebecca Schofield, partner and head of the Yorkshire industrial team at Knight Frank, which are retained agents with BNP Paribas Real Estate on Sheffield Business Park, said: “Phase 4 is located fronting Sheffield Parkway and is in a prime location to provide convenient access to both the north and south of the UK.

“Outline planning consent is in place for B1 research and development, B2 general industrial and B8 storage and distribution usage on the site.

“It is adjacent to the University of Sheffield’s advanced manufacturing campus, already home to Factory 2050, Boeing Sheffield and is expanding rapidly.”

Guy Cooke, director and head of agency at BNP Paribas Real Estate Sheffield added: “The highly acclaimed Advanced Manufacturing Innovation District has become a nucleus of innovation, research and technology, designed for collaboration and rapid commercialisation.

“Within it, Sheffield Business Park continues to be a hugely successful business destination for the region, enabling both existing companies to grow, as well as attracting investment to meet growing market demand”.

Managing Director at Sheffield Business Park, Graham Sadler said: “Phase 4 is one of the last remaining development opportunities on the park which is well placed to serve occupier demand and help drive forward Sheffield City Region’s economic growth.”

Sheffield Business Park covers more than 200 acres with 700,000 sq ft of floor space already accommodating over 2,000 jobs. The park is currently home to 40 plus organisations including the University of Sheffield’s Advanced Manufacturing Campus, Boeing Sheffield and Mercure Hotels.

On site facilities include Mercure Sheffield Parkway Hotel, Kidz@Work Nursery, Business Centre and Meadowhall Shopping Centre is only five minutes away.

Richard Smith, partner in the commercial property team at Keebles completed the legals for Sheffield Business Park.