285,000 sq ft industrial scheme to create 500 jobs
Construction work has begun on £60m worth of industrial and warehousing units totalling 285,000 sq ft in South Yorkshire.
The steelwork frames have now been erected at Catalyst at Sheffield Business Park, with practical completion set for March 2023.
Catalyst, which will feature five units of 22,354 to 108,237 sq ft at the 18-acre site just off the M1, are available to let on completion, with the scheme expected to create around 500 jobs.
Agents Knight Frank, GV&Co and M1 are marketing the units which are suitable for warehouse and distribution, general industrial and manufacturing and front directly onto Sheffield Parkway the main arterial route into Sheffield from the M1.
Investor, developer and asset manager Mirastar committed to a multimillion-pound funding agreement earlier this year to help deliver the scheme at Sheffield Business Park, alongside developers Premcor and Peveril Securities.
Rebecca Schofield, partner and head of the Yorkshire industrial team at Knight Frank, said: “The market requirements are showing strong demand for modern, highly specified and sustainable space and Catalyst will certainly meet those needs.
“Fronting Sheffield Parkway, it is in prime position to satisfy a wide range of occupiers.”
Sheffield Parkway is currently undergoing a £46m upgrade, including a widening to three lanes from J33 M1 to the Catcliffe Junction, which is due to finish late summer 2022.
Henry Watson, associate at M1 Agency, said: “The unprecedented growth demand for last mile solutions shown in the wider South Yorkshire conurbations has been triggered by the rise of the convenience economy driven by mobile technology.
“According to the latest statistical data approximately 4.17 billion parcels were sent in the 2020/2021 fiscal year – coinciding with the pandemic.
“However, while parcel numbers are expected to fall as consumers return to more ‘normal’ shopping patterns, research has indicated that more than a quarter of consumers have decided to permanently shift more of their shopping online, supporting an additional £22bn plus in online sales and an increase in the number of deliveries that requires.
“Proximity to customers is becoming ever important as goods need to be moved quicker and more often, intensifying the demand for space in last-mile locations such as Catalyst Sheffield.”
Daniel Walker from GV&Co added: “It is fantastic to see the speed of progress on site with steels now up on two of the units.
“This milestone gives a real scale of the quality of the scheme and its proximity to the motorway and prominence to the Sheffield Parkway.”