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TWO DEALS SECURED AT MULTIMILLION-POUND SPECULATIVE SHEFFIELD DEVELOPMENT

CGI of Woodhouse

Network Space has secured two significant deals at its speculative multimillion-pound Woodhouse Link warehouse development, near Sheffield, prior to completion.

The first unit, which provides 48,900 sq ft has been snapped up by global company, nVent, which acquired Eldon Holding AB and will move its main UK operations site from Hellaby to Woodhouse Link.

An online retail giant has also agreed a deal for unit 4, where work is set to complete in February on the 23,200 sq ft warehouse with integral office.

As a result, only one unit now remains at Woodhouse Link following last year’s letting of unit 3 to BLE Smoke and Fire Curtains Ltd. It is expected that all of the units will be let pre-completion as the remaining unit 2, which offers 13,200 sq ft of warehouse space, is already under offer.

Local construction company, Harris CM, is currently on-site delivering 116,505 sq ft of prime industrial space across the four high specification units. All of the units will be ready for occupation in spring 2022 when Woodhouse Link will be capable of fostering some 200 new jobs.

Simon Peters, Development Director at Network Space, explains: “Securing a further two significant deals at Woodhouse Link prior to its completion is testament to the quality of space and the great location close to the M1, Sheffield and Rotherham. This, combined with the 24/7 access and wide range of permitted uses has led to strong enquiry levels and the final unit is already under offer.”

Woodhouse Link lies close to junctions 31 and 33 of the M1, to the east of Sheffield and on the south side of Rotherham, within the Advanced Manufacturing and Innovation District and close to the Advanced Manufacturing Park at Waverley.

The development has planning permission for 24/7 operation and is suitable for manufacturing or distribution uses. The detached and self-contained units all provide secure storage yards and parking, 8 to 10 metre high eaves, integral offices and are designed to a high sustainability standard, including EV charging points, and to a BREEAM Very Good rating.

Avison Young and CPP are responsible for marketing the site. Colliers advised nVent on the acquisition of the property.

Rob Oliver, principal from Avison Young said: “We were delighted to agree and complete lettings on Units 1 and 4 prior to practical completion, and to attract to the scheme both a leading online retailer, and the relocation of a well-known local occupier.

“We had received strong interest in both units from other occupiers, as we did for Unit 2, prior to agreeing terms on it with the chosen party. We look forward to seeing construction complete shortly, and the estate fully occupied and functioning in the next few months.”

Ed Norris, Director at CCP said: “The latest deals announced at Woodhouse confirm the quality of the location and building on offer. It is fantastic to conclude these deals prior to practical completion of the units and gives confidence to the region.”

The Woodhouse Link project team includes DLA Architecture, Spawforths planners, Tetra Tech and CJR Midlands M&E engineers, Walker Sime QS and project management and Gateley legal.

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BDC 317 : Jun 2024