Plans to build a new parcel distribution centre for delivery firm DPD (UK) at Smithy Wood Business Park have got the green light following the completion of a substantial deal involving Handelsbanken.
The bank has agreed a refinancing and development funding package with Smithy Wood Business Park Developments which will result in the creation of new facilities on the 50 acre site at junction 35 of the M1.
Paul Griffiths, corporate manager at Handelsbanken in Sheffield, said: “We are delighted to have been able to assist Smithy Wood Business Parks with this development.
“They are a long-established business with a strong management team and have a clear strategy for the future development of the site. We focus on long-term relationships with quality customers and our team here in Sheffield is committed to supporting businesses and individuals in the local area.”
Sheffield-based national law firm Irwin Mitchell advised Handelsbanken on the banking, property and construction aspects of the deal.
Martyn Holland, a consultant with the firm’s real estate team, said: “While many businesses continue to face difficult times, this deal is a strong indication of how banks remain keen to support organisations with huge potential for expansion and growth.
“This deal is great news for Smithy Wood Business Park’s future, but also a major positive for Sheffield which once again highlights its reputation as an excellent location for major businesses.”
Smithy Wood Business Park Developments is a joint venture involving St Pauls Developments and the Duke of Norfolk. The company has developed a mixed warehouse, distribution and office park comprising a mixture of speculative and bespoke units on the Business Park site.
The developers were advised by Jeremy Robinson of property consultants Fowler Sandford and lawyers Gateley.