Just one unit remains. Credit: via Agent PR

Mirastar at the double with Catalyst deals

Renewable energy group Octopus has taken 92,000 sq ft and accident repair centre Solus 22,500 sq ft at the £60m Sheffield industrial park.

Octopus Energy, now billed as one of the UK’s largest domestic energy providers, has taken 91,923 sq ft at the five-unit scheme, while Solus, an Aviva company, adds to its existing bases in the UK with a new regional facility of 22,448 sq ft at Catalyst.

Both leases are described as being “on market leading terms, highlighting the quality of the development”.

Sheffield Catlayst comprises 285,000 sq ft. The deals mean just one unit, of 28,309 sq ft, remains at the scheme, which was completed last year. Knight Frank, GV & Co and M1 are joint agents.

Investor, developer and asset manager Mirastar committed to a multimillion-pound funding agreement in 2022 to help deliver Catalyst, alongside developers Premcor and Peveril Securities.

A year ago, surfaces specialist Cosentino and commercial supplier JLA Group signed at the development fronting Sheffield Parkway. Cosentino relocated into a 33,608 sq ft unit while JLA Group secured 109,166 sq ft.

Henry Watson, partner at M1 Agency, said: “These lettings demonstrate where Catalyst sits within the market of Sheffield. From inception we set out to provide a best in class product which suited the needs of occupiers and we have been rewarded for our confidence in the product with market leading transactions across the development.

“The unprecedented growth in demand for last mile solutions shown in the wider South Yorkshire conurbations has been triggered by the rise of the convenience economy driven by mobile technology.

“Proximity to customers is becoming ever important as goods need to be moved quicker and more often, intensifying the demand for space in last-mile locations such as Catalyst Sheffield.”

Rob Brophy, senior asset manager at Mirastar, added: “Sheffield Catalyst is an important scheme to deliver much needed new industrial warehouse facilities benefiting from excellent ESG credentials and unrivalled prominence and access via the Sheffield Parkway and the M1 Motorway.

“Catalyst represents a continuation of our clear strategy and vision across our portfolio by developing best in class facilities with market leading ESG credentials.”

Industrial occupiers in the area already include Great Bear, the Advanced Manufacturing Research Centre, UK Atomic Energy Authority and University of Sheffield’s Factory 2050.

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