Castings Technology takes 192,000 sq ft at Tinsley Industrial Estate
The deal for the park’s largest shed was brokered by Knight Frank and now Unit 2a Tinsley Depot will undergo an extensive refurbishment ahead of Castings Technology’s 15-year lease.
Paloma Capital’s Dove Real Estate Fund acquired the 463,000 sq ft Tinsley Industrial Estate in 2017, and Yoke Real Estate is asset manager.
Founded more than a century ago, Castings Technology is the UK’s only commercial titanium castings manufacturer and is currently based at the Advanced Manufacturing Park in Rotherham.
Rapid growth has prompted the move to a larger, dedicated site with room for further expansion.
The company, which serves global markets including aerospace, marine, oil and gas, and power generation, plans to establish one of the largest titanium foundries in the world at its new Tinsley location.
Located on Shepcote Lane, the former Whitbread premises occupies a prominent position with immediate access to Junction 34 of the M1.
Castings Technology recently announced an £18m investment package, including a £15m facility from Zachary Asset Holdings, to support the move, fund new equipment, and create new jobs.
The upgraded facility will include advanced pattern-making, moulding, vacuum and air-melt casting facilities, as well as support services for titanium and ferro-based alloy components.
Other occupiers at Tinsley Industrial Estate include Galaxy Insulation and Dry Lining, Lodge Tyres, Belgrave Motors, NE Electrical Wholesalers, FMG Repairs, and Pollards Wholesale.
Rebecca Schofield, partner in the Sheffield office of Knight Frank, said: “This is one of Sheffield’s most established industrial estates.
“This letting confirms the continued demand for premises needed for the expansion of successful and growing manufacturing companies, offering highly-qualified roles in state-of-the-art design, simulation and production.”
Chairman Kevin Parkin said the relocation marks an important step for the business: “Whilst continuing to lease the building and equipment from the AMRC was the correct option in 2021 when the management buy-out completed, due to our substantial growth it is now necessary for the company to move to its own, larger premises and invest in new, world-class equipment.”
Managing director Richard Cook added: “We have developed a strong growth strategy and will continue to collaborate with clients and other institutions to improve operational efficiencies.
“The move delivers a sound platform from which Castings Technology can offer continued supply chain resilience to customers’ future and current programmes.”
Tony Howlings of Yoke Real Estate said: “It has been exciting to re-use and re-purpose this iconic 1970s warehouse for what will be a cutting-edge foundry.
“Re-purposing this building also satisfies the client’s demanding sustainability targets.”
