Sladen Estates - Industrial Development - Doncaster, Wheatley Hall Park

Date: 27 Nov 2003

Wheatley Hall Park – a 45-acre development on the northern edge of central Doncaster – has been acquired by Nottingham-based Sladen Estates and Knutsford-based Aston Land, in a joint venture with Deutsche Property Asset Management. The acquisition takes Sladen Estates’ and Aston Land’s property portfolios to £75million and £36million respectively.

The 45-acre site comprises an existing distribution and warehouse facility of 600,000sq-ft occupying approximately 26 acres, which is currently one of B&Q’s distribution centres. The remaining 19 acres – currently brown field land – will be suitable for car showrooms, industrial and commercial units and roadside developments. When the entire development has been fully sold or let it will have a value in excess of £30million.

The acquisition of Wheatley Hall Park is one of the largest developments in central Doncaster, which borders the northern fringe of the area encompassed in the master plan of the Doncaster Urban Renaissance programme. This 25-year programme that will be facilitated by the creation of a new development company 3D Developments, will see the town centre and the emerging Waterfront and Markets areas completely transformed.

The joint venture investment is not part of the renaissance programme but it will provide much needed roadside, industrial and commercial accommodation.

The existing buildings on the site offer a rare opportunity for occupiers to take such a single large area of space at competitive rents, which was one of the main reasons for the consortium to acquire the site – especially given the national shortage of properties over 500,000sq-ft. The building is to be refurbished and be available for lease from April 2004.

The brown field development, which will typically comprise units ranging from 10,000 to 100,000sq-ft, is already attracting interest from potential occupiers including franchised car dealerships, office occupiers, cash and carry operators and a variety of other companies.

Work on site is anticipated to start in the first quarter of 2004, with the first buildings becoming available by September 2004.

Agents for the development land are M3 (London) and King Sturge (Leeds). Agents for the existing units are M3 and GentVisick (Leeds).

Wheatley Hall Park

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