Sheffield-based development contractor, JF Finnegan, has recently achieved the awarding of a £3m complete design and build project with Harworth Estates to develop the 75,000 sq ft industrial Unit 5 at Gateway 36 in Barnsley, which is being speculatively developed to deal with the regional scarcity of industrial accommodation of a high standard and fit for modern use – something widely regarded as holding the industry back from achieving its full potential.
The unit is actually to be developed as a part of the 1st stage of the Harworth Gateway 36 development, which, in fact, includes 127 acres in 3 phases with direct access to the Dearne Valley Parkway, not far from the M1. This then follows Harworth virtually finishing the initial three items on the development, encompassing 65,000 sq ft, by the end of January itself.
JF Finnegan is to start the development of the unit in March to Harworth’s specified “R-evolution” with a goal of completing the project by September, 2016.
Gary Smith, Managing Director at JF Finnegan itself explained that the development is bringing, “Much-needed good quality industrial accommodation,” specifically to the South Yorkshire area and that the appointment of JF Finnegan to the scheme by Harworth Estates is of great delight to the company, noting the significance of the building and how, through projects such as this, shortages in high quality industrial space may be overcome. With the development potentially hitting the market at a highly “opportune” time, the potential for success of the new unit, and the positive impact it will have on the local community is noteworthy.
Funding for the development of the brand new scheme has been sourced from a loan provided by the SCR’s JESSICA Fund. The fund, constituting of the European Regional Development Fund (ERDF) and Growing Places capital, exists to offer funding for initiatives at competitive rates in areas where funding would otherwise prove difficult within the present markets available. The Fund operates to offer much-needed capital to regeneration schemes with concentration upon workplace and industrial developments which need to meet the ERDF’s targets on employment, remediation and floorspace outputs.