Funding gives investor confidence for Doncaster development
19th January 2016
The investor behind a newly completed business park in Doncaster says the ability to source European funding for the project gave him the confidence to go ahead and build.
Developer Carnell Management Services Ltd accessed £1.4m of grant funding from the European Regional Development Fund (ERDF) to make the Bullrush Business Park development viable and help deliver 13 new high specification units. It says as costs continue to rise, the ERDF, which was aimed at kick starting projects to strengthen economic and social cohesion targeting SMEs in sectors including advanced manufacturing, creative and digital media, sports technologies, and medical and health, proved invaluable. Paul Carnell, from Carnell Management Services Ltd, said: "ERDF helps projects which offer substantial benefits to the programme area and its communities. This project would not have come forward as quickly without a grant. "The grant made the speculative development viable as costs continue to rise but also provided us with a confidence to provide a quality product. We take a long term view on this project but it is already delivering results with tenants moving in and interest high." Doncaster Metropolitan Borough Council cabinet member for business, skills and enterprise Bill Mordue visited the site to view the high specification units and meet new tenants. Mr Mordue said: "It is great to see Carnell Management Services has shown confidence in the Doncaster economy by building these high class, quality industrial units. We, as a council, are sure the development will prove very popular and are working closely with the property agents to attract new tenants." Danum Well Services has already taken three units at Bullrush Business Park together with bearing suppliers to the engineering industry, Signet Industrial Distribution Limited, which has concluded on the letting of a 6,000 sq ft unit. Doncaster has undergone a variety of exciting developments taking advantage of its central location from recent key projects such as the Airport, Doncaster Racecourse, Keepmoat Stadium and the Frenchgate Interchange to new projects that are currently under construction such as the Civic and Cultural Quarter. Rebecca Schofield, partner at the Sheffield office of Knight Frank which is joint agent alongside Ian Brookes of PPH Commercial on Bullrush Business Park, said: "Investor Carnell Management Services Ltd has capitalised on the lack of available small to medium-sized accommodation in the region with the development of these quality units. "Smaller to mid-size businesses seeking quality industrial space and facilities are looking at this park and we are seeing an encouraging level of enquiries." Bullrush Business Park forms part of the existing First Point Business Park, sited off White Rose Way, just half a mile from Junction 3 of the M18 and has attracted big name industrial, office and retail occupiers including One Call Health, Unipart, DHL, Amazon, B&Q and Morrisons. Bullrush Business Park is finished to a high specification with fitted office accommodation, lighting to the warehouse and secure yards with the larger units. It is located adjacent to J3 M18 and 5 minutes away from the M1 and M62 intersections, two miles from Doncaster town centre and five miles from Robin Hood Airport. For further information contact Rebecca Schofield at Knight Frank on 0114 272 9750 or Ian Brooks of PPH Commercial on 01302 640352.