Global developer and investor Trammell Crow has bought a 20-acre logistics site in Sheffield, South Yorkshire.
The Shepcote Lane site includes a facility of 455,750ft2, formerly let to fencing manufacturer Betafence, and has an existing planning consent in place. Trammell Crow Company intends to obtain a new planning consent to replace the existing building with a speculative 365,814ft2 Grade A logistics facility.
Mike Forster, Director and Head of UK logistics for Trammell Crow said: “Coming just weeks after our debut European acquisition, this site represents an exceptional redevelopment opportunity in a sub-region that accounted for 18.3% of the national take up of Grade A logistics buildings in 2020 and currently has a vacancy rate of less than 0.5%. We are actively looking for further opportunities on brownfield and greenfield sites in strategic locations across Europe.”
Logistics Manager reported the previous acquisition last month where Trammell Crow reportedly paid a record price for the former Arcadia warehouse site in Milton Keynes which it intends to redevelop.
CP Partners represented Trammell Crow Company on the Sheffield acquisition.