Speculative development to start in Barnsley
Work on a speculative 125,000 sq ft distribution unit near Barnsley is due to start soon, as demand continues to outstrip supply.
Bramall Properties has confirmed it plans to start work on Maple125 Junction 36 of the M1, in July which seeks to “satisfy demand” and “benefit the whole locality” when it completes in Q1 2021.
Rebecca Schofield, partner at Knight Frank and head of the Yorkshire industrial team, highlighted that, “This is really positive news as stock is limited along the M1 corridor.”
With a number of deals recently being announced across the region for warehouse and distribution space, it appears the shortage of stock won’t be rectified anytime soon. Rob Whatmuff, director at Colliers International highlighted that changes in consumer behaviour is only increasing demand for space.
He said: “Underlying structural changes in the way we shop that were present pre Covid-19 have not retracted and the growth in online shopping and ‘last mile’ delivery have only intensified at an even greater pace than was previously forecast. This trend has clearly been felt in Yorkshire with take up throughout the region reaching high levels, while demand for Grade A space along the M1 Corridor is very limited, significantly outstrips supply.”
The developer has said the unit will be available to let by way of a new lease, although a sale could also be considered.
Jonathan Duck, Property Manager at Bramall Properties, said: “We are excited to be involved in a development which will satisfy a demand for modern industrial and logistics space along the M1. Once occupied, it should lead to benefits for the whole locality.”
The scheme is also being supported by Barnsley Metropolitan Borough Council through its Enterprising Barnsley team.
Cllr Tim Cheetham, cabinet spokesperson for regeneration and culture at Barnsley Metropolitan Borough Council, said: “We are delighted that Bramall Properties will be providing such a high quality development in a first class location in Barnsley. This is great news for the borough, providing further opportunities to boost our local jobs market and Barnsley’s economy.”
Knight Frank’s Yorkshire industrial team has been appointed alongside Colliers International in Leeds to market the unit.