Yes! project gets further boost

OAK Holdings – the company developing the £350m YES! Project – said today said it had signed a development deal with Rotherham Metropolitan Borough Council which means work could start at the site before the end of the year.

The signing of the agreement, which contains the terms for a 250 year lease of the development site, follows its approval by the Cabinet of Rotherham Metropolitan Borough Council on July 30 and a seven day call-in period, during which a councillor could have asked for the Cabinet’s decision to be reconsidered.

The £390m YES! Project is set to bring £350m in investment and create up to 3,000 jobs in the region.

The 1.2m square foot project is earmarked for a 327-acre site near junction 31 of the M1 which will also create another 2,000 construction jobs during its three-year development.

Chief Executive of Oak Holdings, Steve Lewis, said: “Today’s signing formalises the Cabinet’s approval and concludes the statutory approval process. Oak can now move confidently towards gaining tenant commitment. The opportunities this regeneration of a former coal field brings to the region are substantial.”

Rotherham Metropolitan Borough Council leader Cllr Roger Stone said: “This is a significant milestone in bringing the YES! Project from vision to reality. The development will boost not just the local but the regional economy. And together with other visitor destinations across South Yorkshire will really put the area on the leisure, sport and entertainment map.”