MP Clive Betts has praised a developer’s intuition to take an unused brownfield site in South East Sheffield and transform it into a new industrial park.
Sheffield South East MP Mr Betts visited the newly completed Vantage Park, built with £1 million funding from the European Regional Development Fund (ERDF), to meet developer Tony Waddington and property agents Knight Frank.
He praised the development which has already attracted five new companies to the area and reinforced the reason why more should follow suit.
Mr Betts said: “This is exactly the type of modern industrial usage we want in the area offering crucial employment opportunities through the regeneration of the area. This park is already home to five new tenants. This success shows that speculative development is worth doing here and business owners see the value of being located in Tinsley.”
British Glass, Plascompo, Prosurface, Cafeology and Interlink have all located to Vantage Park on Sheffield Road which was speculatively developed by Rotherham property company and investor E V Waddington Limited.
Just four units remain from the 10 built in the already established commercial location which fronts onto Sheffield Road close to junction 34 of the M1 and is home to occupiers including Tata Steel, The Symphony Group and Parcel Force.
Rebecca Schofield, partner at the Sheffield office of Knight Frank who helped provide market advice to secure the ERDF grant and which is marketing the development, said: “Waddington’s saw the need for a new industrial park to cope with increased demand for manufacturing and industrial use in the area and built the development speculatively.
The Vantage Park project was part financed by the European Regional Development Fund (ERDF) Programme 2007–2013, Priority 2 – Supporting and Stimulating Successful Enterprise. The aim of the finance project is to help local areas stimulate their economic development by investing in projects which will support local businesses and create jobs.
It also sits within Sheffield City Region Enterprise Zone where capital allowances are available to qualifying occupiers.
Rebecca added: “We have seen sustained demand from the industrial and manufacturing sectors in the South Yorkshire region for small to medium sized good quality stock which the development at Vantage provides.”