Harworth Group plc has secured new long-term lettings at the Rotherham based Advanced Manufacturing Park.
Two new tenants have been secured for the second phase of “R-evolution” units at the Advanced Manufacturing Park which completed in 2017, meaning this scheme is now fully let. The 25,962 sq. ft Unit 8 building has been let to Spendor Audio Systems Limited on a 15-year lease, whilst the 15,063 sq. ft Unit 7A has been let to British Steel Limited on a 15-year lease. These lettings have achieved a new headline rent of £7.50 psf for the park. Knight Frank and Gent Visick acted as joint agents for both lettings.
This strong demand for space at the AMP has now led Harworth to begin construction of its third phase of “R-evolution” at the AMP, comprising 55,750 sq. ft of additional commercial space to be built to institutional specifications for advanced manufacturing occupiers. The scheme is due to practically complete in September 2018, with JF Finnegan Limited acting as Harworth’s principal building contractor.
Ian Ball, Executive Director of Income Generation at Harworth, commented:
“I’m delighted that we have let all of our remaining vacant units at the AMP and Gateway 36 to three successful & growing companies on long-term leases. These lettings justify why we speculatively developed this space over the past eighteen months whilst also emphasising the market’s continued confidence in our product.”
David Travis, Director of Business Space at Harworth, added:
“With our second phase of “R-evolution” at the AMP now fully let, increasingly strong demand from advanced manufacturing occupiers and other supply chain businesses for readily available commercial space at the AMP means that it is an ideal time for us to commence our third speculative phase of “R-evolution”. I am confident that we’ll be able to secure further occupiers of the same ilk as Spendor and British Steel in advance of practical completion being achieved later in 2018, thereby supporting the future success of the AMP and the Advanced Manufacturing sector in the North of England.”