Insignia Richard Ellis - Industrial Development - Barnsley, Fields End Business Park

Date: 14 Aug 2003

Barnsley Miller Secures Funding For Midas Warehouse, Dearne Valley.

Barnsley Miller Partnership Limited, a joint venture between Miller Developments and Barnsley Metropolitan Borough Council, has forward funded a 6,224 sq m (67,000 sq ft) distribution warehouse at Dearne Valley Enterprise Zone through RVB Investments Limited for £4 million.

Work is about to start on the building, which is known as Midas and is located at Fields End Business Park, between Junction 36 of the M1 motorway and Junction 37 of the A1(M). Completion is due mid-December 2003.

The building will be constructed to an eaves height of 10m and will benefit from four dock level loading doors, two ground level access doors, 50 KN per sq m of floor loading and a generous yard area with secure office and warehouse parking. Office space within the warehouse will extend to 292 sq m (3,143 sq ft) at first floor level.

The development represents the largest speculative industrial scheme within the enterprise zone and is one of only two developments of more than 4,645 sq m (50,000 sq ft) currently in Yorkshire.

Nick Harris of Barnsley Miller Partnership comments: “Midas has been carefully designed to provide flexibility for the occupier who is unable to wait for the design and build solution. The location provides accessibility to both A1(M) and M1 and offers a healthy labour pool in addition to all benefits of an enterprise zone.”

Given the Enterprise Zone location, the building will benefit from exemption from uniform business rates until November 2005 in addition to 100% of the initial capital allowances for tax purposes on eligible expenditure.

Insignia Richard Ellis acted for BMPL and is joint letting agent with Fuller Peiser.

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