The joint venture partnership behind one of Yorkshire’s largest regeneration projects has appointed its agency team to commence the marketing of the commercial elements of the 250-hectare (618-acre) scheme.
International real estate advisors, Knight Frank, have been appointed alongside regional independent consultants, Commercial Property Partners (CPP), to market Unity on behalf of Hargreaves Land and Waystone, who announced their JV partnership in summer 2019.
The mixed-use scheme, located at Junction 5 of the M18 at Hatfield, Doncaster, is set to deliver over 2 million sq.ft of employment space, 3,100 new homes, a new marina, school, transport hub and a range of open spaces. Over the next 20 years the development is expected to inject over £900m into the local economy and create up to 7,000 jobs.
Significant investment has been made in the creation of a new 2.9km link road which is due to complete before the end of 2020. The new road connects the M18 to Stainforth, Hatfield and the surrounding settlements, improving access to the motorway network for residents in local communities.
Commenting on the appointment, Rebecca Schofield, partner at Knight Frank’s Sheffield office said: “The considerable scale and highly accessible location of Unity makes the scheme a very attractive proposition to commercial occupiers across a broad range of sectors. We are bringing to the market design and build opportunities for warehousing and manufacturing premises ranging from 10,000 sq ft up to 1,000,000 sq.ft on a lease or purchase basis, enabling us to accommodate regional, national and multi-national operators. The commercial element of the masterplan also includes provision for retail and office opportunities.
“Our teams in Sheffield, Leeds and London are very excited by Unity’s potential and look forward to working with the development team to deliver what will be a significant new destination for the region.”
Toby Vernon, partner at CPP added: “We are experiencing strong occupier demand in the South Yorkshire market with a number of active requirements for modern industrial and warehousing space. At a local level there are expanding businesses currently seeking space and the area continues to attract inward investment thanks to a strong labour market and its strategic location at the heart of the UK’s motorway network.”
The agency appointment coincides with the launch of a new brand and website for Unity, unveiling the masterplan in further detail and the five zones which identify the different components of the scheme.
Stuart McLoughlin, director at Waystone Hargreaves Land LLP added:“We have worked incredibly hard over the past 15 years to get to this point and it is fantastic to now be able to illustrate the scheme’s huge potential. Working with key stakeholders including Doncaster Council, Sheffield City Region and Homes England, we have demonstrated our commitment to the scheme and confidence in the location to develop a high quality masterplan that will create a first class environment for businesses and residents alike.
“We can deliver properties designed to suit occupier’s specifications and we are already in talks with a number of interested parties which is very encouraging at this early stage.”
The link road is being part-funded by Doncaster Council and Sheffield City Region. Homes England is supporting the extensive proposed housing programme.