Land deals agreed to develop massive industrial units
Hargreaves Services has confirmed deals to construct two major industrial units in South Yorkshire – part of a multi-million pound joint venture.
Waystone Hargreaves Land LLP, a 50:50 joint venture company developing the 650 acre mixed use Unity project near Doncaster, has exchanged conditional contracts with Aver Property Limited Partnership for the development and sale of two large distribution units on plots of 19 acres and 10 acres.
On legal completion, the two contracts will generate combined revenue of more than £50m for the joint venture.
The two distribution/industrial units will comprise 191,000 sq ft and 375,000 sq ft respectively.
Both will be at Unity Connect, the dedicated employment area of Unity next to junction five of the M18 motorway.
This area already has outline planning permission for industrial and logistics space and forms part of a wider planning permission for two million sq ft of commercial space and 3,100 homes across the Unity development site.
Both transactions are conditional upon the grant of detailed planning permission and are expected to become unconditional before the end of 2022 and be completed within 12 months of commencement of construction.
This large industrial and distribution scheme follows on from the April 2021 completion of the sale of a 79 acre development site for a regional logistics hub to a national retailer and represents a further acceleration of the Unity project.