Approved Budget Allocated for £24million Construction Project in Yorkshire
In the heart of South Yorkshire, a significant industrial development is set to take shape. Network Space, a renowned developer in the region, has secured outline consent for a £24million project at Vector 31 West in Rotherham.
The development, spanning over 22 acres, will cater to the growing demand for industrial and warehouse space across the region. It will consist of up to 254,000 sq. ft of employment space, categorized as E, B2, and B8. The development is expected to create over 500 jobs once completed.
Indicative plans approved show between 7 and 9 self-contained, detached units. Unit sizes will range from 12,500 sq. ft to 75,000 sq. ft, providing flexibility for potential occupiers.
Network Space has a history of developing industrial space at the Vector 31 site, having delivered over 160,000 sq. ft across two phases. The company will provide asset management services for the new development and will also market the site for design and build opportunities.
Knight Frank has been appointed as the agent for the new development. Simultaneously, Network Space will explore design and build opportunities for the project.
The Vector 31 West development will be located adjacent to the previously developed Vector 31 site, where the Vector 31 Networkcentre was sold in a £91 million deal in 2018 to InfraRed Capital Partners Limited. However, the specific details about who conducted the sale cannot be determined based on the provided data.
The first phase of the Vector 31 West development, completed in 2008, is currently occupied by a range of national and international businesses, including parcel delivery giant Hermes. Network Space plans to progress the development of a first phase of speculative, high-quality employment units.
Once completed, the Vector 31 West development is expected to make a substantial contribution to the local economy, not just in terms of job creation but also by attracting new businesses to the region.
Read also:
- Transition in Energy: Merz Administration Plans Enactment of Heating Revolution from 2026
- Multitudes of Volkswagen employees spurn IG Metall union support
- Cycling minister draws criticism in Spain
- Prime Minister Modi initiates and dedicates construction ventures totaling Rs 26,000 crore in Bikaner, Rajasthan.
