CPP secures sale of recently refurbished 96,000 sq ft unit in Sheffield
July 8th, 2019
Purchaser Technicut outlines expansion plans
Leading property consultancy Commercial Property Partners LLP (CPP) has announced the sale of a newly refurbished warehouse in Shepcote Business Park.
Acting on behalf of an institutional investor client, CPP has secured Technicut, a global leader in rotary cutting tools for the aerospace industry and the UK’s largest cutting tool manufacturer, as purchaser for the 96,278 sq ft unit.
Founded in Sheffield in 1987, and currently operating from two separate manufacturing facilities in the Attercliffe area of Sheffield, the move will provide Technicut with the opportunity to co-locate its current manufacturing facilities under one roof.
Additionally, the property benefits from an area of expansion land which could be used in the future to extend the building by approximately 20,000 sq ft.
David Fothergill, Managing Director at Technicut, comments: “We are delighted with our purchase at Shepcote Business Park, which offers excellent transport links both around the city, and also onto the M1.
“The move allows us the opportunity to streamline our current operations, while also planning for future expansion, and using the extra space to develop a 7,000 sq ft Technology Centre, with a purpose built gym and canteen for our employees.”
The high quality distribution warehouse in Shepcote Business Park, fronting Europa Link, feeds into the Sheffield Business Park and the Advanced Manufacturing Park, and is located less than one mile from Junction 34 of the M1.
The unit is complete with multi-storey fully-fitted offices, a separate car parking area and eight dock level loading doors.
Toby Vernon, Partner at CPP, said: “Technicut saw the potential in this high-quality premises and invested by buying it outright, securing both the property and the potential room for expansion.
“It is always great to see this level of investment in the industrial property market, and the move undertaken by Technicut is another show of confidence in the industrial offering of the region.”