Valad Europe, the European multi-let real estate investment manager, and Shepherd Developments, the commercial property development arm of York-based Shepherd Building Group, have let 164,000 sq ft of warehousing in Doncaster to The Scotts Miracle-Gro Company
The jv said it had let Quattro, the fourth and final phase of the West Moor Park development, Doncaster, for a 15 year term at a rate of £4.30 per sq ft.
Quattro, which was a joint venture between Valad and Shepherd Developments, has now been placed on the market.
Scotts Miracle-Gro, the world’s largest marketer of branded consumer lawn and garden products, will move its Consumer Business Group, fertilisers and controls distribution service to Quattro with a view to commencing stock dispatches from the site in mid-December.
Richard Squire, project director of Shepherd Developments, said: “It is always very satisfying to conclude a deal in these challenging economic times. We have always been proud of Quattro, which was built to the highest standards.”
He added: “West Moor Park is now very well established as a “prime location” in the Doncaster area and, indeed, in the whole of the Yorkshire and Humber region and epitomises the renaissance of South Yorkshire over the past decade.”
Phase one of West Moor Park, comprising 190,000 sq ft, was prelet to Fellowes, and Phase two, comprising 140,000 sq ft, was sold to the Irish company Anglo Beef Processors. Phase three, the 123,000 sq ft Aspect building, was sold to IM Properties for £6.7m.
The Leeds offices of Knight Frank, GVA Grimley and Jones Lang LaSalle advised Valad and Shepherd Developments on the letting. GVA Grimley is advising on the sale.
paul.norman@estatesgazette.com
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