The Dearne Valley, Yorkshire’s only Enterprise Zone, is on course to substantially pass its job creation target of 6,500 and develop 465,000sq m of mixed use business space within the designated ten-year period which ends in a year’s time.
From a scarred heavily industrialised landscape, the 380-acre former coalmining area in South Yorkshire has been transformed into a dynamic wealth-generating centre incorporating offices, industrial and retail businesses. By November 2005 – the end of exemption from Business Rates – it is predicted that more than 11,000 jobs will have been created.
According to Guy Gilfillan, director of property consultant CB Richard Ellis’ commercial agency department in Leeds, Dearne Valley is playing a vital role in the continuing regeneration of South Yorkshire and boosting the regional economy. He says: “There is still the potential to generate a further 2,500 to 4,000 jobs given the buildings and sites that are available. Developers of these sites, through agents, local authorities and Yorkshire Forward, are working hard to ensure that these opportunities are capitalised on.”
Developers who have contributed substantially to the Dearne Valley Enterprise Zone by leading the regeneration of the vast area include Highbridge, Cannock and St Paul’s. CB Richard Ellis is marketing two further buildings of 3,720sq m and 5,580sq m at Brookfields Park which will provide employment for up to 400 and 600 people respectively.
Highbridge, with the Houndhill Park industrial distribution park extending to more than 18,600sq m and its new speculative 4,650sq m unit at Doncaster’s Denaby Lane Industrial Estate, is also investing in B2/B8 development in the Enterprise Zone. Houndhill Park is now 50% let with units from 977sq m to 3,069sq m remaining.
Miller Developments has also completed construction of Midas, a 6,231sq m high quality distribution unit at Fieldsend Business Park within the Enterprise Zone, which is available to let.
