The Sheffield and Leeds office of global property consultancy Knight Frank has been appointed by South Street Captial to market a 16-acre industrial estate by Junction 38 M1 in South Yorkshire.
South Street Capital has just bought J38 Industrial Estate, at Darton, near Barnsley, which comprises 215,000 sq ft of industrial space, where tenants include Premdor Crosby, Rightcast and Thyssenkrupp Materials.
Richard Henley, industrial agent with Knight Frank in Leeds, said: “This is a tremendous instruction for us, especially as South Street Capital plan to invest heavily in the estate to improve the quality of the accommodation available and we look forward to promoting the estate over the coming months when the works are complete.
“They will be undertaking a full refurbishment of Unit 3a (25,244 sq ft), which will include some selective demolition to allow good external loading areas.”
Helen Macrow of South Street Capital said: “The significant acquisition of J38 Industrial Estate gives us the exciting opportunity to refurbish the estate’s units to provide good quality accommodation to satisfy pent-up demand. There is a shortage of good quality accommodation available in the market at present in both South and West Yorkshire.
“We believe Knight Frank are the ideal agency team to market the estate, given the location of the estate and the excellent track records of both their Sheffield and Leeds offices. We look forward very much to working with Knight Frank and attracting quality occupiers to the estate.”
Tom Swallow from the Sheffield office of Knight Frank said: “The location of J38 is superb. It is just a mile south of the M1, close to the heart of Yorkshire’s excellent motorway network, and four miles from Barnsley.”
Meanwhile Knight Frank’s Yorkshire industrial team, with offices in Leeds and Sheffield, has retained its top spot as the most active in the commercial property sector in Yorkshire in 2016 for the third year running in the national EGi Deals competition – being involved in 111 transactions.
It confirmed Knight Frank’s commanding presence in the region, particularly in South Yorkshire, for industrial property.
Nationally Knight Frank transacted more than 7.5m sq ft of property in the second half of 2016 – climbing to second place in a national league table of industrial agents demonstrating the strength of the national industrial and logistics team.