Continued investment at Tinsley Industrial Estate leads to success
Continued investment through refurbishment at a Sheffield industrial estate has led to a new 6,000 sq ft letting to Galaxy Insulation and Dry Lining.
Continued investment through refurbishment at a Sheffield industrial estate has led to a new 6,000 sq ft letting to Galaxy Insulation and Dry Lining.
London-based Paloma Capital, acting on behalf of the Dove Real Estate Fund, which has owned the 463,000 sq ft Tinsley Industrial Estate since 2017, has capitalised on the continued demand for industrial and distribution premises in South Yorkshire.
After completing a programme of refurbishment, Galaxy Insulation and Dry Lining has occupied a 6,000 sq ft unit fronting Shepcote Lane.
Kitty Hendrick, from the Sheffield office of Knight Frank, who acted as agent for Paloma Capital alongside Yoke Real Estate, said: “Since its purchase seven years ago, Paloma has gradually improved and refurbished the units across the site in the Lower Don Valley area of the city. They have also invested in and improved the common areas of the estate.
“This is one of Sheffield’s most established industrial estates and its immediate letting following the refurbishment shows the ongoing upgrading of industrial accommodation in a prime locations brings continued success.”
Jonathan Hodgson of Yoke Real Estate commented ‘‘Tinsley Industrial Estate is a beacon of success in Sheffield. The void rate has been sub 10% since the current owner acquired it and it’s been fully let for the vast majority of this time. It proves that if you provide good refurbished space, engage properly with occupiers and take a pro-active approach, businesses will commit.”
Unit 1a and 2a Tinsley Depot have recently been vacated. Unit 2a, known locally as the former Whitbread premises offers 195,564 sq ft with 2a lending itself to be split to accommodate requirements from approximately 65,000 sq ft. Paloma Capital, advised by Yoke Real Estate and Knight Frank are currently considering a refurbishment programme for the premises, but have already received a number of enquiries for the space.
Rebecca Schofield of Knight Frank commented: said: “Unit 2a Tinsley Depot is a well known building in the area offering a profile position fronting Shepcote Lane with immediate access to J34 M1. There is continued demand for premises of this size in Sheffield from both industrial and distribution and manufacturing occupiers.
“The fundamentals of the unit offers good height and a particularly large yard, this coupled with the flexibility to split the unit to accommodate a range of size units, will be well received in the market’.”
Other occupiers on the estate include Lodge Tyres, Belgrave Motors, NE Electrical Wholesalers, FMG Repairs and Pollards Wholesale.