Major upgrade attracts full house at industrial estate

A £100,000 upgrade has attracted a full house at a Sheffield industrial estate.

Clients of Barings Real Estate Advisers Europe pledged the six figure sum earlier this year to refurbish units at Sheffield’s Parkwood Industrial and Trade Park.

Builders merchants Magden Ltd has completed lettings at the park after expanding into a 4,000 sq ft unit in its first Sheffield move to join other occupiers including Stancill Brewery, Edmundson Electrical, CLP, Toolstation, Panel Systems, Plumbase, GB Eye, Transonic, Steel City Cars and PW Motors.

The Sheffield office of Knight Frank marketed the scheme following the upgrade of existing units.

Work has also begun on the new 30,000 sq ft sales and distribution centre at Parkwood for specialist construction materials supplier CCF, part of the Travis Perkins group, on a 2.6 acre plot in front of the industrial estate.

A pre-let was agreed last year with CCF, which distribute insulation and interior building products nationwide, after planning permission was granted by Sheffield City Council.

Tom Swallow, senior surveyor at Knight Frank said: “Barings acquired Parkwood Industrial Estate on behalf of clients nearly two years ago and has recently invested in the vacant units, undertaking a comprehensive refurbishment to attract new tenants.

“The investment confirmed a strong commitment to this thriving industrial and trade park and its established consumer and trade tenants, and shows that investment in stock this size brings in new tenants.”

Graham Barker, managing director, UK asset management at Barings Real Estate Advisers Europe LLP, added: “We are delighted to see the estate 100% occupied for the first time during our client’s ownership. The refurbishment work, along with the construction of the new 30,000 sq ft unit for CCF, is having a positive impact on the area and provides modern, functional, ready to occupy units that Sheffield businesses require.”