Barwood and Tungsten sign latest tenant for Sheffield industrial park

Barwood Capital and Tungsten Properties have secured a 110,000 sq ft leasing deal at its Greenland Industrial & Trade Park development in Sheffield, with the occupier moving into a repurposed B&Q store. Paragon Customer Communications, a specialist supply chain and workspace solutions business, has leased units 1a and 1b combined on a five-year term at £7.25 per sq ft. The latest deal has taken the development’s occupancy rate to 83%. Other tenants at the scheme include Wolseley UK, Costa Coffee, Headlam and Formula One Autocentres. Barwood’s Regional Property Growth Fund IV is backing the scheme, while Tungsten Properties is delivering the project. The trade park forms part of the established Sheepcote Lane Industrial Area. Barwood Capital asset management director Adam Smith said: “Our conviction that a redundant retail warehouse could be successfully repurposed has been proven. “It strikes a positive note to see this building and its surrounding land given a new lease of life – a theme that will no doubt develop across the country as investors refine their ESG requirements.’’ Tungsten Properties development director David Mole said: “With a further 10% of the scheme now under offer to a national occupier, the positive letting story continues and just four months after reaching practical completion. “Four trade counter units remain available, and based on the interest received to date, we are expecting to see those let quickly.” GV&Co and Colliers are the joint agents for the scheme. See more letting comparables and events information for Sheffield>> To send feedback, e-mail pui-guan.man@eg.co.uk or tweet @PuiGuanM or @EGPropertyNews Photo © GV&Co