Global real estate developer and investor Trammell Crow Company (TCC) has acquired a 20 acre (8 ha) logistics site in Sheffield, England.
The site, on Shepcote Lane, close to Junction 34 of the M1 motorway, includes a facility of 455,750 ft2 (42,340 m2), formerly let to fencing manufacturer Betafence, and has an existing planning consent in place.
TCC intends to obtain a new planning consent to replace the existing building with a speculative 365,814 ft2 Grade A logistics facility.
Mike Forster, director and head of UK logistics for TCC said: 'Sheffield is one of the most sought-after strategic logistics locations in the UK, with high demand set against very constrained supply.
'Coming just weeks after our debut European acquisition, this site represents an exceptional redevelopment opportunity in a sub-region that accounted for 18.3% of the national take up of Grade A logistics buildings in 2020 and currently has a vacancy rate of less than 0.5%.
'We are actively looking for further opportunities on brownfield and greenfield sites in strategic locations across Europe.'
Located in an established industrial area with an existing logistics allocation, the site has excellent transport communications and a 1.4 million working population within an hour’s travel. The area has recently attracted tenants such as Clipper Logistics; Pretty Little Thing; ITM and Great Bear.
CP Partners represented Trammell Crow Company on the acquisition.
