Commercial properties specialist Network Space has secured outline consent for a £24m industrial development at Vector 31 West in Rotherham, close to Junction 31 of the M1.
Network Space will now advance plans for up to 254,000 sq ft of E(g), B2 and B8 employment space on the 22-acre site. Indicative plans approved 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: “We are delighted to have secured consent to regenerate this high-profile brownfield site. Vector 31 West is extremely well located, just minutes from Junction 34 of the M1, and we are looking forward to building on the success of our previous developments at Vector 31.
“Our intention now is to progress the development of a first phase of speculative, high quality employment units that will satisfy regional market requirements as well as national occupier needs. Simultaneously, we will be marketing the site for design and build opportunities to come forward alongside our development.”
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 £91m deal to InfraRed Capital Partners Limited as part of a 1m sq ft portfolio of 25 industrial sites and two development sites.
Network Space was supported in its application by Harris Partnership, Walker Sime, Spawforths, Tetra Tech and Infrastructure Planning & Design. Knight Frank is appointed as agent with NSM set to provide asset management services.