There remains an imbalance between demand and supply of industrial property across South Yorkshire, particularly in respect of modern accommodation, according to leading global property consultancy Knight Frank.
Rebecca Schofield, partner and head of Knight Frank’s industrial property team in Yorkshire, said: “The good news is that a number of developers, including CDP Marshall at Capitol Park, Barnsley, are responding positively to this lack of supply in South Yorkshire by building speculatively. This will provide a timely boost to the industrial property market in the South Yorkshire region,”
CDP Marshall, in conjunction with Barnsley Council, are now on site at Capitol Park at Dodworth J37 M1, building two new units of 23,900 sq ft and 15,000 sq ft. The project is due to reach completion September this year and will be available to let or purchase.
Chris Marshall of CDP Marshall said: “We are very grateful for the support given to Capitol Park by Barnsley Council. This has helped us to speculatively development two high-quality units, which will attract businesses and jobs to the Barnsley region.
“This support is a resounding endorsement of Capitol Park. The site is recognized as a prime business park location with occupiers having a very significant impact on the local economy, contributing to a very prosperous future for Barnsley.”
Rebecca Schofield added: “These two new units are a great addition to Capitol Park. There is currently a shortage of good quality industrial stock in South Yorkshire, so they will fulfil the demand in the market.”
“CDP Marshall has a superb track record in developing quality industrial units and we expect strong interest in these two, given their location, in a successful business park next to Junction 37 of the M1, and their high specification.”
Meanwhile CDP Marshall have just announced two other deals at Capitol Park.
The NHS have signed a deal with Marshalls to build a new 75,000 sq ft bespoke blood facility which is now on site. At the same time Gem Imports Ltd have purchased a new 76,000 sq ft facility.
Both buildings are located on a 12.63 acre site, which has been granted planning permission for general industrial use, together with storage and distribution facilities. Once fully developed, 500 jobs will be created at Capitol Park.
Chris Marshall from CDP Marshall said: “These two deals, totaling 150,000 sq ft, are a resounding endorsement of Capitol Park, Barnsley, which is already established as one of the finest mixed-use business parks in South Yorkshire. The site is recognised as a business park location with occupiers having a very significant impact on the local economy, contributing to a very prosperous future for Barnsley.”
He added: “These deals also underline that Marshalls, as one of the largest commercial development companies in the North of England, are able to respond quickly to occupiers’ requirements by offering bespoke build to suit options.”
Iain McPhail of the Leeds office of Knight Frank, who helped to broker these deals, added: “In addition, Capitol Park’s location is a major asset. It is immediately adjacent to J37 M1 and two miles from Barnsley town centre. Sheffield, Rotherham, Wakefield and Leeds are within easy reach, as is the M62, M18 and A1(M) motorways.”
Mike Heydecke, director of Sterling Capitol, the original developers of the 36-acre Capitol Park, commented: “I am delighted that Capitol Park Barnsley is continuing to succeed and the unrivalled location proves attractive to both local, regional and national occupiers.’’