Construction work has commenced on a £60m state-of-the-art industrial and warehousing units totalling 285,000 sq ft in South Yorkshire.
The huge 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 prime 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, Gent Visick 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.
Leading 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.
“It offers an advantageous location, adjacent to the main arterial route from the M1, for occupiers wanting growth or relocation opportunities, plus the opportunity to tap into excellent labour resources in the region.”
Sheffield Parkway is currently undergoing a £46m upgrade, including a widening to 3 lanes from J33 M1 to the Catcliffe Junction, which is due to finish late summer 2022.
The units will be finished to a high specification including target EPC rating ‘A’, minimum BREEAM rating of ‘Very Good’, PIR controlled LED lighting to the offices and a rooftop solar PV system ready, reflecting the environmental demands from occupiers.
Units will also have up to 50 KN floor loading, 12-15m eaves and fitted offices with mechanically ventilated systems, suspended ceilings and raised access floors will also be included. Externally the units will feature gated service yards with 24-hour access, security lighting, covered cycle shelter and on-site car parking.
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 £22 billion 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 Gent Visick 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.
“Deliverability is key in the current market with occupiers requiring buildings even quicker to meet with requirements. Practical Completion will shortly be upon us with tenants being able to occupy the units within Q1 2023.”
Industrial occupiers in the area already include Tufnells, Clipper, Great Bear, University of Sheffield Advanced Manufacturing Research Centre (AMRC), UK Atomic Energy Authority (UK AEA) and University of Sheffield Factory 2050.