Multi-million pound, 100,000 sq ft industrial park extension underway
Property investors EV Waddington are investing £6.3m in a major expansion of their Sheffield industrial and manufacturing park.
The Vantage Riverside Business Park has secured an additional £1.9m grant from the European Regional Development Fund, managed by the Department for Communities and Local Government. With it, EV Waddington has already commenced on the structural steelwork of the expansion.
A total 110,000 sq ft is being added to the site for SME occupiers as part of plans to transform the former brownfield land.
The first 70,000 sq ft to be built through the programme was completed by developer Tony Waddington in late 2015 thanks to £1m investment from the ERDF.
Phase two will deliver 15 units between 4,785 to 20,960 sq ft on the site.
The first units are expected to be ready for occupation in October this year with the whole site completion anticipated for September 2018.
Councillor Mazher Iqbal, Sheffield City Council’s cabinet member for business and investment and Mizan Rouf, investment manager at Creative Sheffield toured the site with Tony and property agents Knight Frank.
Councillor Iqbal said: “Flagship commercial property developments like Vantage Park not only offer a much needed choice for companies, placing South Yorkshire as a key location for businesses, but are also giving neighbourhoods a new lease of life through significant economic benefits in the area with the creation of jobs, the use of local suppliers and the creation of training opportunities.”
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: “Vantage Park has already proved itself as a viable business location with the first development there proving extremely popular.
“Having the right commercial property offer is essential to support existing companies and this new phase will continue to support existing companies wishing to expand and to attract new companies to locate in the Sheffield City Region.
“The units, which will be available individually, or can be combined to accommodate larger requirements, will be available to let at £4.75 per sq ft pa and boast 6.5m eaves, connections to all mains services, fitted offices and very good BREEAM rating for reduced energy consumption and low running costs.
Businesses including Ventilation Direct, Maxwell Chocolates and M J Wilson already occupy the first phase of the Vantage Park development.
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 delivered successful industrial developments at Shortwood Industrial Estate, Barnsley and the popular Aldwarke Business Park and Chesterton Court Industrial Estates in Rotherham.
