Prime Sheffield industrial site sold to UK investment fund

Trending Today

A prime industrial development in Sheffield has been sold to a UK investment fund.

County Durham property development company Premcor Estates and joint venture partner Peveril Securities has sold the development at the Catalyst in Sheffield to the fund for an undisclosed sum. Catalyst provides 285,000 sq ft of industrial space split across five units, and it forms part of the Advanced Manufacturing Park, which has tenants including Airbus, Boeing, BAE Systems, McLaren Automotive, Rolls-Royce, UK Atomic Energy Authority and The University of Sheffield.

Premcor acquired the 18-acre site off-market in March 2021 by making a direct approach to its owners with support from agents BNP Paribas. The site had outline planning consent for industrial development and was the last remaining plot on Sheffield Business Park. This month, Premcor and Peveril concluded their deal to sell the scheme to Mirastar, KKR Real Estate’s industrial and logistics platform in Europe. Mirastar has marketed the scheme through Knight Frank, M1 Agency and GV&Co and Units 1 and 3 were pre-let by the time it was completed.

Premcor director Simon Hawkins said: “Premcor has an entrepreneurial approach to property development and a track record of successfully matching market demand with investor requirements and this deal was no different. The site was part of the former Sheffield Airport land, so we were delighted to be able to buy it off market. It’s in a highly sought after location, just off the M1 and close to the M18 where there has been a lack of new development stock coming forward recently, which means the area benefits from a strong occupier demand with rents moving on towards and beyond £8/sq ft.

“We approached Peveril with the site at the outset. It is the first time we have worked together, so I would hope we can do so again going forward.”

Peveril Securities is the wholly owned investment and development division of Bowmer and Kirkland (B+K) and operates on a nationwide basis across all sub-sectors of the UK real estate market.

Peveril managing director, Ralph Jones, said: “Peveril specialises in investment and development both in a sole capacity and as a JV partner, so I was pleased to be approached by Premcor with this opportunity which was a great fit for our portfolio. As part of the B+K Group, Peveril enjoys the benefit of being able to finance a variety of deals from balance sheet capital. It has been a good experience working with Premcor and a most satisfactory outcome.”

Kris Britland, Mirastar’s development director Northern Europe, added: “We agreed terms with Premcor and Peveril to help bring forward the scheme. Fronting Sheffield Parkway, it is in a prime position to satisfy a wide range of occupiers, offering an advantageous location adjacent to the main arterial route from the M1 for occupiers wanting growth or relocation opportunities, in addition to the opportunity to tap into excellent labour resources in the region.”

Original artice – https://business-live.co.uk/all-about/yorkshire-humber

Now Playing

Recently Played

Latest News

Former worlds strongest man and British Olympian Geoff Capes dies aged 75

Geoff Capes, twice the world’s strongest man and a three-time Olympian, has died aged 75, British Athletics has announced. The Lincolnshire-born athlete won Commonwealth shot put gold in 1974 and 1978 and was crowned World’s Strongest Man in 1983 and 1985. He set the British record with a 21.68m throw in 1980, which remains the best ever ratified, and also enjoyed success at the European indoor athletics championships the decade prior, claiming two golds, three silvers and a bronze. A British Athletics statement read: “British Athletics are saddened to hear the news of former British shot putter, Geoff Capes’ passing. “Our condolences go out to his family and friends at this time.” A statement from Capes’ family said: “The family of Geoffrey Capes would like to announce his sad passing today, 23rd October. Britain’s finest shot-putter and twice world’s strongest man.” The former policeman also took home bronze at the 1987 World Strongman Challenge in Tokyo, 10 years after he claimed bronze at the European outdoor athletics championships. He represented Great Britain at the 1972, 1976 and 1980 Summer Olympics, achieving his best result, a fifth-place finish, at his final Games in Moscow. Carl Myerscough later threw further than Capes’ British record in June 2003, 21.92 metres, but his performance was not ratified. Published: 23/10/2024 by Radio NewsHub

Carbon monoxide poisoning primary line of inquiry in care home deaths probe

Police investigating the deaths of three people at a care home in Swanage are pursuing potential carbon monoxide poisoning as their “primary line of inquiry”. Dorset Police Chief Superintendent Heather Dixey told the press that seven people were also in hospital as a result of the incident at Gainsborough Care Home in Ulwell Road on Wednesday. However, she said there was “nothing to indicate” danger to the wider community. “The deaths are currently being treated as unexplained, and we are continuing to liaise with our partner agencies to establish the full circumstances of what has happened,” she said. “A significant multi-agency presence will remain in the area, including a police cordon as we work with our partners to carry out an investigation. “Following earlier inquiries, I can confirm that potential carbon monoxide poisoning is our primary line of inquiry, but I would stress that there is nothing to indicate that there is currently any risk to the wider public. “Swanage is a very close-knit community and I know these very sad deaths will have significant impact on everyone here.” She said the remaining residents have been evacuated to a location where they can receive appropriate care. “They are being supported by Dorset Council and the health service,” she added. Katie Lobban, a spokeswoman for gas distribution company SGN, said they were called to the Gainsborough Care Home earlier on Wednesday as the national gas emergency service for the south of England. She said engineers were sent to complete safety checks in the building, adding: “Our thoughts are with everyone who has been affected by this tragic incident.” People living near the scene in Ulwell Road saw residents being taken out of the building. One man, who did not want to give his name, told the PA news agency: “They evacuated the care home, Gainsborough Care Home. “They have taken all the patients out but the emergency services are still on the scene.” He said he saw some residents being taken out in wheelchairs. He estimated there were two fire engines, three to four police cars and around eight or nine ambulances at the scene, where the road remains closed. Patricia Garnel, who lives in Ulwell Road, said she started hearing sirens “non-stop” from around 8am. “I knew something was happening as we started hearing sirens non-stop from around 8, 8.30am,” the 53-year-old told PA. “As I was driving to the ferry the road was closed. I made it around, got to the ferry and police, ambulances and fire brigades were crossing from Poole to Swanage. It was a huge apparatus. One I’ve never seen.” Published: 23/10/2024 by Radio NewsHub

The V.I.P Club 👑

Join the V.I.P Club and receive exclusive special offers, competitions and amazing prizes. It’s FREE and easy to do!

ON AIR NOW:

Prime Sheffield industrial site sold to UK investment fund

Now Playing

Recently Played

Latest News

Former worlds strongest man and British Olympian Geoff Capes dies aged 75

Carbon monoxide poisoning primary line of inquiry in care home deaths probe

Follow us

The V.I.P Club 👑

Back to top

We are Proud Members of

Station Sponsor

Sponsors

Contact: