The distribution warehouse market in South Yorkshire continues to grow in strength as the region establishes itself as of the UK’s premier distribution locations. Confidence in the area following recent transactions with companies such as B&Q, Next and Alba are at an all time high, although the availability of large speculatively built warehouse schemes in the remains limited.
However, the Barnsley Miller Partnership, a joint venture between Miller Developments and Barnsley Metropolitan Borough Council has forward funded a 6,233sq m high specification distribution warehouse within the Dearne Valley Enterprise Zone, through RVB Investments, for £4M. Work on the building has already started and is due for completion by mid-December.
Called Midas, the shed is located at the Fields End Business Park between the M1’s three days to complete. Ian Barnes, general manager of Direct UK Transport, comments: “We required a bigger floor plate quickly to cope with demand for our service and the new management team were very efficient and flexible in agreeing terms for the additional space. The new unit will accommodate our growing business requirements and we are looking forward to working with the park’s new owners.”
Other existing occupiers at Heywood include Argos, Kuehne & Nagel, JD Sports, Littlewoods, Paul Hartmann, Two Way International Logistics and Bibby Distribution.J36 and J37 of the A1(M). It is being built to an eaves height of 10m and will benefit from four dock level loading doors, two ground level access doors, 50KN per sq m of floor loading and a yard area with secure office space and warehouse parking.
Midas is the largest speculative industrial scheme within the Dearne Valley Enterprise Zone, and is one of only three new developments in excess of 4,650sq m currently in Yorkshire.
Nick Harris, of the Barnsley Miller Partnership, says: “Midas has been carefully designed to provide flexibility for the occupier who is unable to wait for the design and build solution. The location provides accessibility to both A1(M) and M1, and offers a healthy labour pool in addition to all the benefits of an enterprise zone.”
The building, due to the enterprise zone location, will be exempt from uniform business rates until November 2005 and benefit from 100% initial capital allowances for tax purposes on eligible expenditure.