South Yorkshire Pension Fund loans £11m to redevelop former Greenland Road B&Q site in Darnall, Sheffield
Jobs are set to be created in Sheffield after finance was secured to revive the site of a former B&Q warehouse.
The South Yorkshire Pension Fund has provided an £11.75m loan to BGF4 (Sheff) LLP to fund the redevelopment of an 11-acre site on Greenland Road in Darnall, Sheffield, to create 191,150 sq ft of industrial and logistics space.
The loan will partly fund the site acquisition, as well as contributing to the regeneration of a former B&Q warehouse and developing 58,000 sq ft of new industrial units.
The £80m South Yorkshire Pension Fund was launched in 2019 to support regional investment in South Yorkshire and the ongoing economic growth of the region.
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George Graham, director of the South Yorkshire Pensions Authority said: “We are pleased to be able to finance the redevelopment of such a prominent site in Sheffield bringing buildings which would otherwise be demolished back into use and creating new employment opportunities.”