Rula Developments has secured a 10-acre site close to Junctions 33 and 34 of the M1 in Sheffield with plans to deliver up to 230,000 sq ft. of new, state-of-the-art industrial/logistics accommodation.
The prime site is located just off Europa Way, adjacent to the well-established Sheffield Business Park, and in the heart of the Advanced Manufacturing Innovation District (AMID).
Existing occupier, Tinsley Bridge Group (TBG) has completed a sale and leaseback of its 62,000 sq ft factory and headquarters building which has been sold to Moorfield. TBG plans to vacate its old factory and remainder of the site in 2025, making way for redevelopment.
Rula will submit a planning application in the first quarter of 2024 but is yet to determine building plot sizes subject to demand.
Anthony Clitheroe, Development Director at Rula Developments said,
“We are delighted to have secured this strategically important site that sits within an already well-established logistics location in Sheffield and just two miles from the M1 motorway.
“The area is already recognised as a hotbed of cutting-edge industry and is well placed for last mile logistics operators serving the Sheffield City Region.
“The requirement for high quality, purpose-built industrial accommodation in the region remains high and we plan to develop the plot in line with occupier demand. This site sits well within out existing portfolio of well located, highly accessible and strategically supported developments.”
CPP represented Rula on the site acquisition and investment sale and have been retained as agent for the new build alongside Colliers.
Rula Developments is a privately owned commercial development company focusing on identifying and developing sites across the UK for immediate or medium to longer-term strategic development, delivering high quality buildings and schemes with strong ESG credentials.
Rula has successfully delivered 800,000 sq ft of logistics and industrial space across 132 acres of land and has 1,221,000 sq ft of development either contracted or under development. Current projects include the speculative delivery of Eclipse, a 405,411 sq ft smart space logistics scheme in Doncaster, and a 369,251 sq ft prime logistics and office development at Broadway Green in Oldham.
