Industrial estates sold in multi-million pound deal

Regeneration specialist St. Modwen has completed the multi-million pound sale of two South Yorkshire commercial properties.

The industrial estates in Sheffield and Rotherham have both been sold in separate deals for in excess of £3.3m.

St. Modwen acquired the Claywheels Lane industrial estate in Sheffield in 2010 and over the last seven years has refurbished the 44,000 sq ft site and has undertaken major roof repairs.

Following the latest refurbishment Claywheels Lane was fully let as a result of the expansion of US-based dinnerware supplier, Thunder Group, which saw the creation of five additional local jobs. St. Modwen sold the site to Ribston UK Industrial Property Limited Partnership.

Sycamore Court, located in Rotherham’s Eastwood Trading Estate, was also acquired by St. Modwen in 2010 and has been sold to its existing tenant CMD, a manufacturer of office power and media solutions. CMD will continue to use the 17,701 sq ft building as its headquarters.

St. Modwen says it continues to reinvest in its other commercial property projects in South Yorkshire, including its 27 acre Parkside Business Park in Doncaster.

The first phase of the speculative development of two new warehouses, totalling almost 80,000 sq ft, has recently been completed, with further phases to develop in the near future.

Paul Brustad, asset manager at St. Modwen, said: “The successful sale of Claywheels Lane and Sycamore Court is testament to our investment and hard work in transforming commercial properties. The future looks bright for these sites and we wish the new owners all the best. Their disposal is in line with St. Modwen’s strategic objectives and we will continue to bring similar properties to the market in order to support investment into larger commercial developments in the region.”