Greenland Industrial & Trade Park has achieved full planning permission and works have begun at the former B&Q site, which will be repositioned for a new industrial development.
Funded by Barwood Capital’s Regional Property Growth Fund IV the new scheme will become an integral part of the established Sheepcote Lane Industrial Area, located to the east of the city. A prime location for industrial warehousing, brands including UPS, Royal Mail, Travis Perkins, Costco are already established in the area.
The development will be undertaken by Tungsten Properties and will deliver a total of 188,750 sq ft across 9 acres. The project will transform a former B&Q retail warehouse and surrounding land. A combination of refurbishment and new build property will deliver four new industrial units and a trade counter scheme. Formula One Autocentre and Costa Coffee have already been secured as pre-lets for the trade scheme.
Greenland Industrial & Trade Park is accessible in under two miles from J34 of the M1 motorway and is connected to Sheffield City centre via The Sheffield Parkway.
Adam Smith, Asset Management Director at Barwood Capital, comments, “Greenland Road sits at the heart of an established industrial hub in Sheffield where industrial supply remains limited and opportunities for new build units of this size range are scarce.
“We look forward to converting this redundant retail warehouse whilst maximising the development on the surrounding car park land.”
David Mole, Development Director, Tungsten Properties, says, “We are delighted to have started on site, delivering new and refurbished sustainable warehouse and logistics space to meet the high demand from Sheffield’s manufacturing and engineering industries. It is encouraging that we have already secured Costa and F1 Autocentre and we continue to receive strong interest from other potential occupiers now we’re on site.”
It is anticipated that Practical Completion of the scheme will be in July 2022.
Colliers and Gent Visick are the letting agents.