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Gazeley Launches 1M-SF Sheffield Scheme

LONDON-Gazeley Properties, the European distribution property specialist owned by Wal-Mart, has bought a 48 acre site in Sheffield, south Yorkshire, for a new distribution park.

By Graham Parker | Updated on May 06, 2004

LONDON-Wal-Mart’s distribution property arm, Gazeley Properties, has made its first acquisition in the north of England with the purchase of a 48-acre site in Sheffield, South Yorkshire. The site is located on Shepcote Lane, Sheffield, less than a mile from Junction 34 of the M1 motorway.On completion it will provide up top 1.1 million sf of industrial and distribution space. The developer claims it will be one of only a few sites across the UK able to satisfy growing occupier demand for “supersheds” of over 300,000 sf. The site, formerly occupied by a British Steel rolling mill, was purchased from Corus and Outokumpo Stainless. A planning application has recently been submitted to Sheffield City Council.Nick Cook, development manager for Gazeley, says: “The purchase of our first north of England development site has been largely driven by a shift in occupier demand for more ‘off pitch’ locations. Sheffield and the surrounding areas provide a significant pool of available labour, excellent communication links and land availability at sensible prices. All of which are vital elements for a successful distribution park.” NAI Fuller Peiser represented Gazeley in the site acquisition, while Fowler Sandford acted for the vendors. NAI Fuller Peiser and C2G are joint letting agents for the site, and expect to be quoting rents in the region of £4.50 ($8.50) per sf.

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