Sterling Capitol has sold a 14-acre development site at Capitol Park Barnsley to Commercial Development Projects (CDP), the development arm of the Marshall Group, for an undisclosed price.
The site, which comprises the final phase of Capitol Park Barnsley, has full planning consent for industrial and distribution units of 84,000 sq ft and 105,000 sq ft, and has a GDV of more than £30m once the scheme is fully completed. CDP intends to speculatively build both units with work starting on site this spring.
Tom Brown, from Sterling Capitol, said: “Sterling are pleased to have concluded another deal with CDP. We have worked tremendously hard to ensure that this site is oven-ready for development. We are delighted to be handing it over to one of Yorkshire’s most respected and successful property companies, who, due to its excellent location and specification, will be looking to develop it speculatively.
“Capitol Park Barnsley has been one of the jewels in our crown. The park is now recognised as a first-class location for business with blue chip occupiers and their businesses having a very significant impact on the local economy, contributing to a very prosperous future for Barnsley and I am sure these two units will be very well received by the market.”
Rebecca Schofield, partner and head of Knight Frank’s Yorkshire Industrial team, which has been retained as letting agents on the buildings, added: “The units will benefit from a fantastic specification and will offer an opportunity for occupiers to create a bespoke commercial premises to suit their own exact requirements. There remains a good level of demand in the area and this sale has come at an opportune time to capitalise on current market conditions.”
