Funding boosts Waddingtons' park plans

A family-owned property firm has secured part-funding to boost £8 million business park work.

Waddingtons has received £1.45 million backing to push forward construction of the second phase of Kingsforth Business Park, in Rotherham.

Bosses say work is now underway on three blocks of speculative industrial buildings and warehouses spanning 91,010sq ft.

The phase has been part-funded by the SY JESSICA Fund.

Developer Tony Waddington, who was helped by Mercer & Co and Mascot Management on the funding application, said: “The multi-let unit project helps support continued economic growth in the region, which is key for us. 

“This second speculative development demonstrates our confidence in the South Yorkshire market, our product, the location and the appetite within the industrial and logistics sector for units of this size within the region.”

Rebecca Schofield, office head at Knight Frank in Sheffield, and head of its Yorkshire industrial team, which is acting as agent on the project, said: “These schemes address a shortage of small units across the region.

“Waddingtons continues to develop quality industrial units in South Yorkshire helping satisfy the pent-up demand for smaller, flexible units.”

The first phase of Kingsforth Business Park was completed without funding and is now let to occupiers including The Panel Company, UK Doors Online and EMED.

Waddingtons, which has been based in Rotherham for 80 years, has completed developments including 31 East, in Dinnington; The Oval, in Barnsley; and Vantage Park, in Sheffield.

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