UK property regeneration company Harworth Estates is to develop the first speculative industrial scheme in Yorkshire since the downturn.
The development, called ‘R-evolution @ The AMP’, will be sited at Harworth’s Advanced Manufacturing Park in Rotherham.
It will be the region’s first speculative scheme for six years, marking a turnaround for Yorkshire’s economy.
Rotherham Metropolitan Borough Council gave consent for 100,000 sq ft of industrial units on seven acres of land.
The development will offer a range of units from 10,000 sq ft to 30,000 sq ft.
Harworth is in ongoing discussions with the council about the potential for securing a funding package for the development.
Owen Michaelson, chief executive of Harworth Estates, said: “We are confident that this development will meet increasing market demand in a region where the availability of equivalent quality stock is reducing.
“We are delighted to have received support from Rotherham Council, whom we intend to provide with a high-quality business estate.”
Tim O’Connell, business development manager of Rotherham Investment & Development Office, the regeneration arm of Rotherham Council, said: “The Advanced Manufacturing Park has a global reputation for expertise in advanced manufacturing technology and there is strong demand from high quality manufacturing businesses, who want to join with the world-class companies already located here in Rotherham.
“We believe that the R-evolution project will further enhance the reputation of the AMP and benefit Rotherham through the creation of more high quality jobs and investment into the borough.”
‘R-evolution @ The AMP’ will be located at Harworth’s Waverley site, which is being transformed into Yorkshire’s largest-ever mixed-use development.
Harworth said the 740-acre site already includes the Advanced Manufacturing Park with world-leading occupiers, employment development and a new community of 4,000 homes along with shops, restaurants, schools, leisure & community facilities and parks.
The Advanced Manufacturing Park is home to Boeing, Rolls-Royce, Castings Technology International, Dormer Tools, Sandvik Coromant and TWI. It is seen as one of the UK’s premier advanced manufacturing technology parks.
Barton Willmore was planning consultant.