Network Space has submitted a planning application for £24million, quarter of a million sq ft development in Yorkshire.
Network Space has submitted a planning application to Rotherham Borough Council for a £24million industrial development at Vector 31 at Waleswood, close to Junction 31 of the M1.
The outline planning submission sets out proposals for up to 254,000 sq ft of E, B2 and B8 employment space on an 8.8 hectare site. Indicative plans submitted with the application show between seven and nine self-contained, detached units ranging from 12,500 sq ft to 75,000 sq ft, with design and build opportunities also available. The development could create in excess of 500 jobs once completed.
Simon Eaton, Development Manager at Network Space, explains: “Vector 31 West can provide a wide range of industrial accommodation which will appeal to smaller workspace occupiers through to distribution centre requirements. Given the strong location and market demand, we intend to commence with a first phase of speculative units as soon as possible, whilst maintaining our ability to deliver larger units on a design and build basis.
“The success of our earlier development at Vector 31 demonstrates that this is one of the Yorkshire region’s most sought after locations, offering a strategic central distribution route close to the M1 as well as easy access to Rotherham and Sheffield. The development will therefore serve to meet regional market requirements as well as national occupier needs.”
Rebecca Schofield, Partner at Knight Frank, added: “We are continuing to see strong interest for industrial and warehouse space across the South Yorkshire region, the quality of accommodation which Network Space will offer to the market will no doubt prove popular to satisfy demand.’’
Network Space has a long history with this former colliery site having delivered more than 160,000 sq ft of industrial space across two phases at the adjacent Vector 31 development. The first phase was fully occupied within a year of completion in 2008 and is currently occupied by a range of national and international businesses, including parcel delivery giant Hermes.
The Vector 31 Networkcentre was sold in 2018 in a £91million deal to InfraRed Capital Partners Limited as part of a 1 million sq ft portfolio of 25 industrial sites and two development sites.
Architects for the scheme is Harris Partnership. Knight Frank is appointed as agent with NSM set to provide asset management services.