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News - 04/04/2013

Next phase of development to start at Victory Park

South Yorkshire’s Industrial and Logistics market received a significant confidence boost after Manchester-based developer Property Alliance Group announced it is to start work on the next phase of development at Victory Park.

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First speculative scheme since the downturn

The £3m scheme in the Lower Don Valley is the first major speculative industrial and logistics development to take place in the region since the onset of the economic downturn.

Plans for the 13-acre mixed-use park include the existing Pre Let deal to Elliott Group as well as the speculative 50,000 sq ft manufacturing building. This will leave the potential for a further unit up to a maximum of 80,000 sq ft on site to complete the site.

Construction works commenced early this year, with the new premises available for occupation by summer 2013 on a leasehold basis.

Increased demand for industrial units over 50,000 sq ft

Our Sheffield-based Industrial and Logistics Agency team is marketing the scheme on behalf of Property Alliance Group.

Lee Charnley at Property Alliance Group said: "Our marketing agents have experienced a significant increase in enquiries for industrial premises in the 50,000 sq ft size range, which has prompted our decision to forge ahead with the speculative construction of this unit.

“We anticipate this will become the catalyst for further speculative development, both here at Victory Park and across the wider region, which will provide a significant boost for both manufacturing and logistics businesses looking to relocate or expand within the region.”

Shortage of high quality, modern stock

Rob Whatmuff, Director and regional head of Industrial and Logistics at LSH, said: “There is a significant shortage of available high quality/modern manufacturing and logistics buildings across South Yorkshire, which has led to a build up of strong occupational demand.

“Early discussions look positive towards a potential deal being agreed on the unit prior to practical completion, which is further positive news for the scheme and builds upon the existing Pre Let deal to modular buildings business Elliott Group.”


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