Employment boost expected as work begins on new industrial premises

Investor Urban Logistics REIT and developer Newsholme Developments have started construction on speculative development of a new warehouse at Newhall Business Park, Sheffield.

The building will be part of the wider Newhall 58 development and has capacity for up to 150 more jobs.

Adam Jones, of Newsholme Developments, said: “We are pleased to have started on site with the final phase of the highly successful Newhall 58 development which has seen significant investment, regeneration, and job creation within Sheffield since our initial purchase.

“Having agreed a deal with Urban Logistics REIT to purchase the completed building, Newsholme Developments will now manage the development phase with Newhall 131 being one of a number of active projects currently on-site and being delivered by Newsholme Developments across the UK.”

John Barker, head of development at Urban Logistics REIT, said: “We’re happy to be the funding partner of Newsholme Developments on this scheme and look forward to working with them in delivering the stand alone, self-contained building.

“The location is ideal for both the city centre and J34 of the M1 which will help with staffing and access to the motorway network.”

Practical completion of this unit is expected by the end of May 2023.

Toby Wilson, of marketing agents M1 Agency, added: “The Sheffield warehouse market is currently starved of mid box 100,000 sq ft – 200,000 sq ft new build Grade A stock and the unit’s size and specification will help to fill this void, especially given the strong sustainability credentials and good surrounding labour supply.

“The occupier market is still robust with good levels of early initial interest pre-practical completion in May 2023, therefore we are confident of quickly securing occupier interest.”