Insulation distributor attracted to upgraded space at industrial estate

Investment in a Sheffield industrial estate has led to a new 6,000 sq ft letting to Galaxy Insulation and Dry Lining.

London-based Paloma Capital, acting on behalf of the Dove Real Estate Fund, which has owned the 463,000 sq ft Tinsley Industrial Estate since 2017, says it has capitalised on continued demand for industrial and distribution premises in South Yorkshire.

Following a programme of refurbishment, Galaxy Insulation and Dry Lining has occupied a 6,000 sq ft unit fronting Shepcote Lane.

Kitty Hendrick, from the Sheffield office of Knight Frank, who acted as agent for Paloma Capital alongside Yoke Real Estate, said: “Since its purchase seven years ago, Paloma has gradually improved and refurbished the units across the site in the Lower Don Valley area of the city.

“They have also invested in and improved the common areas of the estate.

“This is one of Sheffield’s most established industrial estates and its immediate letting following the refurbishment shows the ongoing upgrading of industrial accommodation in a prime locations brings continued success.”

Jonathan Hodgson, of Yoke Real Estate, said: ‘‘Tinsley Industrial Estate is a beacon of success in Sheffield. The void rate has been sub 10% since the current owner acquired it and it’s been fully let for the vast majority of this time.

“It proves that if you provide good refurbished space, engage properly with occupiers and take a pro-active approach, businesses will commit.”

Unit 1a and 2a Tinsley Depot have recently been vacated. Unit 2a, known locally as the former Whitbread premises, offers 195,564 sq ft. Paloma Capital, advised by Yoke Real Estate and Knight Frank, is currently considering a refurbishment programme for these premises.