Total adds to Doncaster holding
Keyland Developments has sold 15 acres of employment land to the firm, potentially adding 230,000 sq ft to the 375,000 sq ft of industrial space recently started at Total Park.
Keyland, the property trading arm of Kelda Group and sister company to Yorkshire Water, has agreed the unconditional sale of the land at Woodfield Road, Balby.
Subject to planning, the site, already allocated for employment, could accommodate a development with a potential GDV of £30m including 233,500 sq ft of accommodation over five units.
As reported last week by Place Yorkshire, Total Developments is currently on site with works at Total Park on adjacent land. Total Park will deliver five units totalling 376,419 sq ft with units ranging from 43,525 sq ft to 128,945 sq ft. The new land acquired from Keyland Developments will form the second phase of development.
Total is confident that, in a proven logistics location close to Junction 3 of the M18, the A1(M)/M18 intersection and also only 3.4 miles from iPort, it can help address the widely-reported shortage of high-quality, well located industrial and warehousing stock. Nearby occupiers include Amazon, Tesco, Screwfix and IKEA.
Matthew Turnbull, land & planning manager at Keyland Developments, said; “This land sale ideally complements the development being undertaken at the adjacent site.
“South Yorkshire is in real need of new industrial and logistics accommodation to meet rising demand, and by unlocking this strategic site we are enabling a significant amount of square footage to be delivered to the constrained market. Additionally, development will generate lots of new jobs, during construction and beyond.”
M1 Agency and GV&Co are joint agents on Total Park.
Henry Watson, partner at M1 Agency, said; ”The acquisition demonstrates our confidence in the South Yorkshire region where units below 150,000 sq ft are at an all-time low. Future supply of this size range states a chronic lack of supply across the region and especially within Doncaster.
“On top of the recent transactions across the region, we are still seeing a strong influx of distribution enquiries for new build space, focussing on strong ESG credentials, which is at the centre of Total Developments` strategy.”
The first three buildings in the first part of Total Park are expected to be ready for occupation in the third quarter of this year.
