YORKSHIRE, UK—Rotherham Investment and Development Office, and Harworth Estates, have secured a high-quality occupier for a new 30,000 square-foot industrial unit at the Advanced Manufacturing Park at Waverley, Yorkshire. 

X-Cel Superturn (GB) Ltd, which produces precision-machined components to the petrochemical and power generation industries, has bought the newly-completed unit from Rotherham Metropolitan Borough Council for $4.3 million (£2.75M) in order to triple the size of its operation at the AMP. The company had previously moved into a 10,000 square-foot unit at the Evolution development at the park in June 2012.

The new unit is located at Harworth's R-evolution@The AMP, a seven-acre development which Harworth began in April this year. The development will comprise five units, of which three have already been acquired by owner-occupiers planning expansion at the AMP: X-Cel Superturn, Maher, a supplier of high-performance alloys, and Nikken Kosakusho Europe, a supplier of precision engineering products. 

The X-Cel Superturn unit was owned by Rotherham Metropolitan Borough Council, after it completed a forward purchase of three units totaling 52,000 square feet from Harworth in March this year for $6.7 million (£4.3M). Harworth retained responsibility for the delivery and disposal of those units, which were completed this week.  Rotherham Metropolitan Borough Council is now looking for high-quality occupiers for the remaining two units, totaling 22,000 sq ft. 

“R-evolution@The AMP” is the first speculative industrial development in Yorkshire for six years. Funding for the development came from a $4.2 million (£2.7M) loan from the Sheffield City Region Joint European Support for Sustainable Investment in City Areas (JESSICA) Fund.

William Church, Director of CBRE Capital Advisors, investment advisor to the SCR JESSICA Fund, added:  “R-evolution@The AMP is exactly the type of development the Fund (created by the SCR LEP and Local Authorities) was established to provide funding for; one which will benefit the local economy, and where there is clear occupier demand but little interest from the traditional lenders.  We are delighted that we were able to deliver the necessary financial package, alongside Rotherham Borough Council, to enable this speculative development to happen.”

Rotherham Investment and Development is the regeneration service of Rotherham Metropolitan Borough Council, and Harworth Estates is a UK property regeneration company.