Total Developments has acquired a second Yorkshire site in Sheffield, in addition to Total Park Leeds which has seen pre-commitments on three units.
The 11-acre site known as Total Park, Sheffield, is prominently located adjacent to the Drakehouse and Crystal Peaks Retail Parks in Waterthorpe and will be speculatively built for Q3 2021.
The site is accessed from Drakehouse Crescent via the B6053, which links to the A57 providing swift access to central Sheffield and Junction 31 of the M1 and nearby occupiers include Asda, Wickes and Sports Direct.
Total Park Sheffield comprises a four unit scheme and will offer a series of new build industrial/warehouse units creating up to 250 jobs. Joint agents are M1 Agency, Knight Frank and Avison Young.
Henry Watson from M1 Agency said: “Total Developments has built a strong track record in successfully delivering high-quality speculative developments across the country. This scheme will be a welcome addition to the Sheffield and wider South Yorkshire market, where there is a noticeable imbalance between demand and supply for warehouse space. The exciting development will aim to capture the gap in the market for high-quality new build accommodation, which will be speculatively built and available in Q3 2021. Total Developments’ reputation as a prime mid box developer is ever increasing, and they don’t have any plans to slow down.”
Watson continued: “It has been an exciting month for Total Developments. We have completed the sale of Unit 5 and 6 at Total Park Leeds, where we now have disposed of three of the six units on the scheme prior to completion in January 2021. In addition, the construction on Total Park Theale has completed, where we have speculatively built a two-unit scheme of 19,618 sq ft and 25,590 sq ft. Finally, Total Developments are on-site in Bedford, constructing 235,000 sq ft across a three-unit scheme.’’
Avison Young acted on the sale on behalf of the vendor. Jake Pygall from Avison Young added ‘We launched the marketing of the site in February of this year, COVID-19 then struck, but given the popularity and demand for the site, the decision was made to continue with the sale as planned. This is an exceptional strategic purchase for Total Developments. From marketing the site, it was apparent that there is pent up demand in the local area for good quality, mid box units, and we are extremely excited to work alongside Total Developments in helping deliver a fantastic scheme of 4 high quality units.’
Rebecca Schofield, partner and head of the Yorkshire industrial team at Knight Frank in Sheffield, added: “Total Park in Sheffield benefits from being ideally located on the South East side of the city with easy links to the national road network and can be accessed via local bus and tram links. The quality warehouse and industrial units also sit next to two of Sheffield’s most popular retail parks and all their amenities.”
Edward Chantler CEO of Total Developments said: “We are delighted to add Total Park Sheffield to our development portfolio as it offers the rare opportunity to cater for the lack of supply and pent-up demand in the region. The UK industrial and logistics sector is experiencing strong demand and with the exciting development pipeline we have, I am confident of ongoing success. We look forward to releasing further updates on some of our other site acquisitions in due course.”
