Speculative development for smaller businesses to begin

A new speculative development of industrial units designed for small to medium sized businesses will start at Sheffield’s Magna 34 Business Park this month.

NSM manages the development on behalf of InfraRed Capital Partners and will oversee the nine-month build programme, as well as providing agency services to market the site to prospective tenants.

A stand-alone 35,000 sq ft warehouse will be delivered alongside a further 40,000 sq ft, which will comprise 13 smaller units ranging from 2,000 to 4,500 sq ft.

The latter is thought to be the only small multi-let industrial scheme underway in the area.

Helen Gordon, associate director at NSM, said: “There is a well-known shortage of industrial space, particularly with the recent surge in online retail.

“Most new and refurbished developments are focused on the larger distribution requirements and Magna 34 will be one of the only developments which delivers new, high quality space for smaller and growing businesses.

“We are already receiving enquiries and I expect this well-located site, next to the M1, will prove incredibly popular.”

Magna 34 is an established business park close to Sheffield and Rotherham. NSM manages the existing 47,000 sq ft of space at this site which comprises two industrial units.

The business park is already home to occupiers including Parcelforce, UK Mail and Element Materials Technology Sheffield Ltd.

This additional space will be property and asset managed by the Yorkshire-based NSM team adding value to InfraRed’s portfolio.