22nd August 2023

Barwood and Tungsten secure major letting at new Sheffield industrial scheme

Greenland Industrial & Trade Park reaches 83% occupancy.

Greenland Industrial & Trade Park Sheffield, a significant new development just three miles to the east of Sheffield city centre, forms part of the established Sheepcote Lane Industrial Area.

Repurposing a former B&Q retail warehouse and developing the under-utilised car park, the scheme has been funded by Barwood Capital’s Regional Property Growth Fund IV and delivered by Tungsten Properties.

Having already attracted established national occupiers to the scheme during the construction phase that include Wolseley UK, Costa Coffee, Headlam and Formula One Autocentres, a further 110,000 sq ft letting has now completed which takes occupancy across the estate to 83%.

Paragon Customer Communications, a specialist supply chain and workspace solutions business, has leased units 1a and 1b combined (the former B&Q) on a five year term at £7.25 per sq ft.

Adam Smith, Asset Management Director at Barwood Capital said:

“We are delighted that Paragon has chosen our scheme as its new home. Our conviction that a redundant retail warehouse could be successfully repurposed has been proven. It strikes a positive note to see this building and its surrounding land given a new lease of life – a theme that will no doubt develop across the country as investors refine their ESG requirements.’’

David Mole, Development Director at Tungsten Properties said:

“With a further 10% of the scheme now under offer to a national occupier, the positive letting story continues and just 4 months after reaching practical completion. Four trade counter units remain available, and based on the interest received to date, we are expecting to see those let quickly.”

GV&Co and Colliers are joint agents for the scheme.