South Yorkshire property company EV Waddington has secured part of the funding for an £8m second phase of a Rotherham business park.
Construction has begun on three new blocks of speculative industrial buildings and warehouses totaling 91,010 sq ft at Kingsforth Business Park, part of the established Thurcroft Industrial Estate, which can be divided into 13 units.
The latest stage is partially funded by the SY JESSICA Fund (Joint European Support for Sustainable Investment in Urban Regions).
The Fund aims to promote sustainable investment, growth and employment in urban areas by providing development support in the form of conventional loans and intervention funds.
Phase 2 units are designed for flexibility and can be combined to offer a wide range of unit sizes from 5,440 square feet up to 10,980 square feet.
Developer Tony Waddington, who was supported by Mercer & Company and Mascot Management in the funding application, said: “The multi-let unit project, made possible with the £1.45m award from the JESSICA programme, will support continued economic growth in the region. It will help support the.” , that's important to us.
“This second speculative development demonstrates our confidence in the South Yorkshire market, our products, our location and the industrial and logistics sector’s demand for units of this size within the region.”
Rebecca Schofield, head of Knight Frank in Sheffield and head of Industry Yorkshire, which is acting on behalf of the scheme, said: Flexibility to be combined as needed to accommodate larger requirements.
“Kingsforth is aimed at industrial, warehousing and manufacturing occupiers with a 6.5m eave height, full-height loading dock, lighting and office facilities.
“These industrial and trade schemes address the shortage of small scale units across the region. Waddingtons continues to develop high quality industrial units in South Yorkshire and continues to address the pent-up demand for smaller, more flexible units. It helps meet demand.”
The first phase of Kingsforth Business Park was completed without funding by the developer and has now been handed over to occupiers including ThePanel Company, UK Doors Online and EMED. There are two 5,440 square foot units remaining.
