£6.3m business park expansion given the go-ahead
Vantage Riverside Business Park’s £6.3m expansion is set to go ahead.
Developers EV Waddington have been given the green light to expand the Sheffield business park by 110,000 sq ft, to provide more space for SME occupiers.
A £1.9m investment grant from the European Regional Development Fund was agreed to help fund the project, which will be managed by the Department for Communities and Local Government.
This latest phase will provide 15 units of mixed sizes from 4,785 to 9,565 sq ft and provide much needed capacity for industrial and manufacturing growth.
Work is due to begin this month with the first units ready for occupation in July. Construction on two further buildings will start in October.
Sir Nigel Knowles, chairman of Sheffield City Region Local Enterprise Partnership, said: “The project forms part of the Local Enterprise Partnership’s drive to increase inward investment and private sector jobs.
“In order to support our existing companies to expand and attract new companies to locate in the City Region, having the right commercial property offer is essential. The development is very good news and will help bolster the attractiveness of this strategically important area within the Advanced Manufacturing Innovation District.
“The role of ERDF has been crucial in providing funding for this speculative scheme to enable it to progress and support the wider regeneration of City Region.”
Phase one of Vantage Park in Tinsley, which is now fully occupied, was completed in late 2015 by Rotherham property company and investor E V Waddington Limited thanks to £1m investment grant from the ERDF.
The 70,000 sq ft park, which includes occupiers such as Ventilation Direct, Maxwell Chocolates and M J Wilson, has proved popular with tenants.
Rebecca Schofield, partner at the Sheffield office of Knight Frank, which acted for E V Waddington and helped provide market advice to secure the ERDF grant, said: “The development is the second phase of the successful Vantage Park which has grown into an established commercial location.
“This type of modern industrial unit is exactly what is needed in the area and the success of the first phase shows that speculative development is worth doing here and businesses see the value of being located in Tinsley with its outstanding motorway links.
“The units, which will be available individually, or can be combined to accommodate larger requirements, are suitable for manufacturing, industrial and warehouse use.”
ERDF funding was secured for both phases on EV Waddington’s behalf by Paul Mercer of HERA Regeneration.
As well as Vantage Park, E V Waddington Limited has already developed Shortwood and Aldwarke Business Parks and Chesterton Court in Rotherham.
