MP Clive Betts has praised a developer who took an unused brownfield site in South East Sheffield and transformed it into an industrial park thanks to a £1 million grant.
Sheffield South East MP Mr Betts visited the newly-completed Vantage Park, built with £1m from the European Regional Development, to meet developer Tony Waddington.
Mr Betts said: “This is exactly they type of modern industrial usage we want in the area, offering crucial employment opportunities through regeneration. This park is already home to five new tenants.
“This success shows that speculative development is worth doing here and business owners see the value of being located in Tinsley.”
British Glass, Plascompo, Prosurface, Cafeology and Interlink have all moved to Vantage Park on Sheffield Road, close to junction 34 of the M1, which was speculatively developed by Rotherham property company and investor EV Waddington Ltd.
Neighbours include Tata Steel, The Symphony Group and Parcel Force.
The Vantage Park project was part financed by the European Regional Development Fund Programme 2007–2013, ‘Supporting and Stimulating Successful Enterprise’.
It aims to help local areas stimulate their economic development by investing in projects which support local businesses and create jobs.
The site also sits within Sheffield City Region Enterprise Zone which offers tax breaks and fast-track planning.
Rebecca Schofield, partner at the Sheffield office of Knight Frank, helped provide market advice to secure the ERDF grant.
She said: “Waddington’s saw the need for a new industrial park to cope with increased demand for manufacturing and industrial use in the area and built the development speculatively.
“We have seen sustained demand from the industrial and manufacturing sectors in the South Yorkshire.”
EV Waddington Ltd has already developed Shortwood Business Park in Sheffield and Chesterton Court and Aldwarke Business Park in Rotherham.