Work on the new 30,000 sq ft sales and distribution centre for a specialist construction materials supplier at Sheffield’s Parkwood Industrial and Trade Park will start next month.
A pre-let was agreed last year with CCF, part of the Travis Perkins group, who distribute insulation and interior building products nationwide, with planning permission granted by Sheffield City Council in early 2017.
Coupled with the start of the construction work has been a further £100,000 investment pledge by Barings Real Estate Advisers Europe LLP (“Barings”) to upgrade existing units which will involve external redecoration and installation of new full height roller shutter loading doors.
The Sheffield office of Knight Frank and Campbell and Co acted for Barings in respect of the deal with CCF, to build the new unit on the 2.6 acre plot to the front of the popular business park.
The new CCF centre will create 15 full time and four part time jobs and the development is expected to be completed at the end of the year.
Tom Boden, property acquisitions manager at Travis Perkins Plc, said: “Travis Perkins is well represented on the Parkwood Industrial and Trade Park through Toolstation, PTS and BSS and saw the opportunity to add a bespoke CCF further enhances our profile in the area.”
CCF, which offers products including ceilings, drywall, flooring, insulation, partitioning and fire protection, agreed a 15-year lease at Parkwood.
Barings acquired Parkwood Industrial Estate on behalf of clients nearly two years ago and has invested in the vacant units, undertaking a comprehensive refurbishment to attract new tenants.
Graham Barker from Barings added: “Our next phase of investment confirms a strong commitment to this thriving industrial and trade park and its established consumer and trade tenants.
“We look forward to seeing the new CCF centre completed.”
Occupiers include Stancill Brewery, Edmundson Electrical, CLP, Toolstation, Panel Systems, Plumbase, GB Eye, Transonic Ltd, Steel City Cars and PW Motors.
Rebecca Schofield, partner at Knight Frank in Sheffield, added: “This is a popular industrial park and to see the development plot at the front of the site taken and being developed, coupled with the phased refurbishment, brings the accommodation up to modern specification. There is a shortage of good quality stock of such sized units and the estate will prove attractive to occupiers as a result.’’
Just two refurbished units of 4,004 and 6,875 sq ft remain available at Parkwood Industrial Estate.
