Interchange 38 fully let
The Paloma Capital-owned 400,000 sq ft industrial estate in Barnsley is now fully occupied following two lettings totalling 138,000 sq ft.
The latest deals see growing businesses Phoenox Textiles and Company Shop Group take up the estate’s remaining vacant accommodation, which was subdivided into two units.
Founded in Huddersfield in 1954, Phoenox Textiles has signed a 10-year lease on 65,000 sq ft. The manufacturer, which employs around 150 people, is investing in its manufacturing and finishing capabilities while expanding collaborations across its portfolio of floor-covering brands, including Hug Rug, My Mat, Origin, Howler, and Scratch.
Meanwhile, Company Shop Group, the UK’s leading redistributor of surplus products, has taken 73,000 sq ft and is investing several million pounds in a new frozen-products redistribution centre. The business is headquartered at Wentworth Industrial Estate in nearby Tankersley.
Located adjacent to Junction 38 of the M1, the park has easy access to Barnsley, Sheffield, Wakefield, and Leeds. Existing occupiers include One Below and Premdor, both of which have recently renewed their leases.
The lettings come against a positive economic backdrop for the area: According to the Office for National Statistics, Barnsley has a population of 244,600 and an unemployment rate of 2.9%, significantly below the UK average of 4.7%.
Rebecca Schofield, partner at Knight Frank in Sheffield, which marketed the unit with Leeds-based Carter Towler, said: “This is a great example of how a landlord’s flexible approach to leasing helped secure tenants swiftly.
“Paloma agreed to split the units and retained some of the previous fit out to accommodate the needs of the tenants in the market. This approach reduced the vacancy period and provided fitted space for the new tenants to operate and grow their operations from.”
Hazel Sykes, business investment manager at Enterprising Barnsley said: “Supporting growing businesses like Phoenox and Company Shop Group is exactly what we aim to do at Enterprising Barnsley, and their decision to expand here further reinforces Barnsley’s reputation as a competitive and well-connected place to do business.”
Charles Mosley, Phoenox managing director, said: “Our original site has served us well but an increase in demand for our products, plus improvements in manufacturing and processes means we need a more modern base with the associated technology for our latest requirements. It was also important that we had good transport links so our staff can easily access the new site from Huddersfield.
“A new cutting and finishing functions will move to Interchange 38 and products will be distributed from there. Our original site is vast but due to its historic nature offers limitations on our push to become even more sustainable. This modern unit gives us the ability to do that.”
Chris Burns, group managing director of Company Shop Group, said: “In five years we have doubled the amount of frozen surplus we handle and this new redistribution centre is a major investment for the future, bringing significantly increased operational capacity.
“By bringing our frozen operations in-house, we will be better positioned to support our industry partners, creating a more efficient system and a platform for continued investment in our product interventions, which helps stop even more perfectly good products from going to waste.”