YES! project to march on
OAK Holdings, the company behind the ambitious YES! Project, has moved into profit but admited that any physical development of YES! will have to wait until economic conditions improve.
However, the group said that work is continuing on strategic planning and liasons with potential tenants.
The company’s results for the six months ended April 30 were a profit on ordinary activities before taxation of £186,791 compared to a loss of £360,191 the same period in 2008.
Planning consideration is now being given to phase one of the YES! project, which includes a purpose built arena for the Sheffield Steelers ice hockey team and a conference hotel.
In May, Oak Holdings announced that it was taking over the operation and management of Rother Valley Country Park.
The seven year lease, which has been negotiated with Rotherham Council, will see the firm integrate its adjacent 327 acre £300m YES! Project into the 1,097 acre park.
Permission to develop the 1.2 million square foot fully integrated mixed use, leisure and entertainment resort near junction 31 of the M1 – which is set to become the largest undercover leisure-based scheme in Europe – was granted last August.
Around 3,000 jobs will be created in the region upon its completion and a further 2,000 during its three year development.
