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Real estate investor and developer Firethorn Trust continues to develop its logistics portfolio in the UK with the acquisition of a large industrial site in Barnsley.
Firethorn’s new 24-acre program is part of the larger “Phase 2” development at Gateway36, which spans over 51 acres and is owned by Yorkshire land and property regenerators, Harworth Group plc.
The contracts have now been traded and Firethorn is expected to provide 340,000 square feet of modern logistics space on a single unit by the second quarter of 2023, bringing the GDV of the program to £ 50million.
Located close to the J36 of the M1, the site offers direct motorway links to Leeds, Sheffield and Doncaster, while the Humber Ports complex is a 60-minute drive away, via the M62, A1 (M), M180 and A180 .
The adjacent “Phase 1” Gateway36 development currently houses four major occupants, including Esco GB, Talurit and the Environment Agency.
The latest deal follows Firethorn’s recent acquisition of a 37-acre project in Sherburn-in-Elmet, where the developer will create 660,000 square feet of new logistics warehouse.
Dan Green, Managing Partner of Firethorn Trust, said: “This new site is a fantastic addition to our growing real estate portfolio.
“Yorkshire has recently become an inbound investment center, and as Category A space in the region is expected to remain scarce in the medium term at least, we are delighted to accelerate the implementation of the program.
“Firethorn has a strategic approach to identifying strong locations for development, unleashing the full potential of sites across the UK, while meeting the ever-growing occupant demand for sustainable, flexible and high-quality logistics accommodation,” which can bring economic benefits and employee benefits. wider area.
Chris Davidson, Associate Director, Major Projects, Harworth Group added: “We are delighted to welcome Firethorn to Gateway 36 as part of the next phase of site development.
“Since receiving planning permission for Footbridge 36 in 2015, Harworth has transformed the old Rockingham Coal Mine into a new high-quality mixed-use development adjacent to junction 36 of the M1.
Through Firethorn’s investment and other phases of development, we look forward to unlocking more jobs and opportunities for the region.
Firethorn Trust was advised by Stephenson Harwood and Harworth Group was represented by Knight Frank and Gent Visick.