Construction is well underway on a £60 million state-of-the-art industrial and warehousing unit development covering 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. Sitting just off the M1 and fronting directly onto Sheffield Parkway, the main arterial route into the city, Catalyst will feature five units of 22,354 to 108,237 sq ft on an 18-acre site. All are available to let on completion, with the scheme expected to bring in around 500 jobs when occupied.
Leading investor, developer and asset manager Mirastar committed the funding agreement earlier this year to help deliver the scheme, alongside developers Premcor and Peveril Securities. Agents Knight Frank, Gent Visick and M1 are marketing the units, described as suitable for warehouse and distribution, general industrial and manufacturing.
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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 undergoing a £46 million upgrade, including a widening to three lanes from J33 M1 to the Catcliffe Junction, which is due to finish imminently.
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.”
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.
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