24-acre industrial scheme acquired by real estate business
Real estate investor and developer, Firethorn Trust, is continuing to grow its UK logistics portfolio with the acquisition of a large industrial site in Barnsley.
Firethorn’s new 24-acre scheme forms part of the wider ‘Phase 2’ development at Gateway36, which spans more than 51-acres and is owned by Yorkshire-based land and property regenerators, Harworth Group plc.
Contracts have now been exchanged, and Firethorn is set to deliver 340,000 sq ft of modern logistics space across a single unit by quarter two 2023, taking the scheme’s GDV to £50m.
Located close to J36 of the M1, the site provides direct motorway links to Leeds, Sheffield and Doncaster, while the Humber Ports complex can be accessed within a 60 minute drive, via the M62, A1(M), M180 and A180.
The adjacent ‘Phase 1’ Gateway36 development is currently home to four major occupiers, including Esco GB, Talurit and the Environment Agency.
This latest deal follows Firethorn’s recent acquisition of a 37-acre scheme in Sherburn-in-Elmet, where the developer will create 660,000 sq ft of new logistics warehousing.
Dan Green, associate director at Firethorn Trust, said: “This new site is a fantastic addition to our growing property portfolio.
“Yorkshire has become a recent focus of inward investment, and as Grade-A spaces across the region are expected to remain in short supply for the medium term at least, we are excited to bring the scheme’s delivery forward at pace.
“Firethorn has a strategic approach to identify strong locations for development, unlocking the full potential of sites across the UK, whilst meeting ever-increasing occupier demand for sustainable, flexible and high-quality logistics accommodation, which can bring economic and employee benefits to the wider area.”
Chris Davidson, associate director, major projects, at Harworth Group added: “We are delighted to welcome Firethorn to Gateway 36 as part of the next phase of development at the site.
“Since receiving outline planning consent for Gateway 36 in 2015, Harworth has transformed the former Rockingham Colliery into a new high quality mixed-use development adjacent to Junction 36 of the M1.
Through Firethorn’s investment and further phases of development we look forward to unlocking more jobs and opportunities for the region.”
Firethorn Trust was advised by Stephenson Harwood and Harworth Group was represented by Knight Frank and Gent Visick.