Power firm leases second unit at city business park

PLP has signed a pre-let agreement with ITM Power of 83,237 sq ft as part of the second phase of development at PLP Bessemer Park, Sheffield.

ITM Power, who design and manufacture hydrogen generation systems, has taken a second unit at the site having leased 134,000 sq ft that was completed during Phase 1 of development. This will take ITM Power’s occupation to over 217,000 sq ft at PLP Bessemer Park.

This is the first letting at the second phase of development currently under construction at PLP Bessemer Park, which consists of four units totalling 605,482 sq ft, with completion targeted from October 2023. The remaining available units are 94,175 sq ft, 135,625 sq ft and 292,445 sq ft.

PLP Bessemer Park is close to Meadowhall shopping centre, with immediate access to J34 of the M1.

The scheme will achieve Carbon Net Zero (CNZ) status and will adhere to the UK Green Building Council’s Net Zero Buildings Framework. PLP’s carbon net zero strategy combines CNZ construction with CNZ ready design, to enable future occupiers to achieve CNZ operation by using built-in renewable energy features and appropriate renewable energy supplies. 

Hugh Chesterton, Development Director at PLP, said, “We are really pleased to see the first occupier commitment to our second phase of development at PLP Bessemer Park. It is rewarding to see an occupier at the vanguard of the green hydrogen and renewal energy sector expanding further within the wider development.”

Richard Saul, UK Head of Asset Management for Ivanhoé Cambridge, said, “Seeing an existing customer expand within your portfolio is always gratifying. Even more so one who is so closely aligned with our partners sustainability goals. The continued partnership with ITM includes a number of Green Lease clauses which we believe will become the norm as the market adapts to more closely align developers, owners and their customers. 

Knight Frank, Moriarty and Co and CBRE represented PLP on the scheme. ITM Power were represented by CPRE.

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