WORK PROGRESSING ON £6M SPECULATIVE DEVELOPMENT

WORK PROGRESSING ON £6M SPECULATIVE DEVELOPMENT

Work is set to complete later this year on a new £6m speculative business park in Barnsley.

Cladding is now almost completed on all of the units at the Nexus industrial development and the internal fit out starting to take shape. Units are expected to be ready for occupation in October 2019.

Developer and investor Carnell Management Services Ltd is developing 15 units for industrial, storage and distribution use.

Paul Carnell from Carnell Management Services said: “These are speculative units and a response to the lack of small to medium sized units that are so desperately needed in the region.

“There has not been much speculative development of this size in the region, mostly due to the difficulties making such sized schemes viable.

“We have taken a long term view on this project and committed investment in the area, coupled with support from Barnsley MBC and Enterprising Barnsley.

“We have kept a watchful eye on the quality of the build and are confident that this will pay dividends with occupiers.”

The development of the units has been supported by a £2.2m loan from the Sheffield City Region JESSICA Fund.

Rebecca Schofield, partner at the Sheffield office of Knight Frank, which is marketing the scheme, added: “The development features high quality industrial and warehouse units ranging in size from 3,000 to 11,800 sq ft, aimed at satisfying the much-needed demand for small and medium-sized industrial space in the region.

“Now that the units are advancing we have good levels of interest in the units from potential occupiers.”

Smiths Chartered Surveyors is the joint agent for the development.

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