Work has begun on the latest phase of a multi-million pound business park in Sheffield offering industrial and manufacturing use.
Rotherham property company and investor EV Waddington is extending the £6.3m Vantage Riverside Business Park after securing a further £1.9m grant from the European Regional Development Fund (ERDF) managed by the Department for Communities and Local Government.
Units totalling 110,000 sq ft are currently being added to the site offering new high quality employment space for SME occupiers as part of the plan to transform the former brownfield land into much needed space for industrial and manufacturing growth.
The first 70,000 sq ft to be built through the programme was completed by developer Tony Waddington in late 2015 thanks to £1m investment from the ERDF.
Councillor Mazher Iqbal, Sheffield City Council’s cabinet member for business and investment and Mizan Rouf, investment manager at Creative Sheffield toured the site with Tony and property agents Knight Frank to check on progress.
Cllr Iqbal said: “Flagship commercial property developments like Vantage Park not only offer a much needed choice for companies, placing South Yorkshire as a key location for businesses, but are also giving neighbourhoods a new lease of life through significant economic benefits in the area with the creation of jobs, the use of local suppliers and the creation of training opportunities.”
Phase 2 will provide a total 15 units of mixed sizes from 4,785 to 20,960 sq ft on this popular site within Sheffield, situated close to junction 34 of the M1 motorway.
The first units are expected to be ready for occupation in October this year with the whole site completion anticipated for September 2018.
The project forms part of the Sheffield City Region’s Local Enterprise Partnership’s drive to increase inward investment and private sector jobs.
Rebecca Schofield, partner at the Sheffield office of Knight Frank, which acted for E V Waddington and helped provide market advice to secure the ERDF grant, said: “Vantage Park has already proved itself as a viable business location with the first development there proving extremely popular.
“Having the right commercial property offer is essential to support existing companies and this new phase will continue to support existing companies wishing to expand and to attract new companies to locate in the Sheffield City Region.
“The units, which will be available individually, or can be combined to accommodate larger requirements, will be available to let at £4.75 per sq ft pa and boast 6.5m eaves, connections to all mains services, fitted offices and very good BREEAM rating for reduced energy consumption and low running costs.
Businesses including Ventilation Direct, Maxwell Chocolates and M J Wilson already occupy the first phase of the Vantage Park development.
Both phases of the Vantage Park development have been part financed by the ERDF as part of the European Structural and Investment Funds Growth Programme 2007-2013 and 2014-2020.
ERDF funding was secured for both phases on EV Waddington’s behalf by Paul Mercer of HERA Regeneration.
The aim of the European Regional Development Fund is to help local areas stimulate their economic development by investing in projects which will support innovation, business investment and growth, employment creation and support for local community regeneration.
As well as Vantage Park, E V Waddington Limited has already delivered successful industrial developments at Shortwood Industrial Estate, Barnsley and the popular Aldwarke Business Park and Chesterton Court Industrial Estates in Rotherham.