Keyland Developments has agreed the sale of a circa 15-acre industrial development site in Balby, Doncaster, to Total Developments.
Subject to planning, the site could accommodate 233,500 sq ft of industrial space across five units in a scheme with a GDV of around £30m.
Total Developments is currently on site with the 376,419 sq ft Total Park industrial development on adjacent land, which comprises five units ranging from 43,525 sq ft to 128,945 sq ft. The new land acquired from Keyland will form the second phase of development.
Matthew Turnbull, land and planning manager at Keyland Developments, the property trading arm of Kelda Group and sister-company to Yorkshire Water, said: “This land sale ideally complements the development being undertaken at the adjacent site. South Yorkshire is in real need of new industrial and logistics accommodation to meet rising demand, and by unlocking this strategic site we are enabling a significant amount of square footage to be delivered to the constrained market. Additionally, development will generate lots of new jobs, during construction and beyond.”
Henry Watson, partner at M1 Agency, which represented Total Developments on the deal, added: ”The acquisition demonstrates our confidence in the South Yorkshire region where units below 150,000 sq ft are at an all-time low. Future supply of this size range states a chronic lack of supply across the region and especially within Doncaster. On top of the recent transactions across the region, we are still seeing a strong influx of distribution enquiries for new build space, focussing on strong ESG credentials, which is at the centre of Total Developments` strategy.
“The proximity to the motorway network has been a key consideration and exemplifies why this is a proven location. The M18 and A1(M) intersection is just 3 miles away, which link to Leeds, Sheffield and Manchester in the North and Nottingham, Birmingham and London in the South. In addition, the site is less than 4 miles from iPort Rail, which provides immediate access to the national rail network and all the country’s deep sea ports. This site will provide an expansion of the existing Total Park, where construction is well under way with the first three units ready for occupation in quarter three of 2024.”
Knight Frank represented Keyland on the sale.
