Controversial shed scheme for Worksop
Global real estate investor Invesco Real Estate, and German real estate company GARBE Industrial Real Estate have formed a joint venture to develop a new £80 million 550,000 ft2 big shed scheme in Worksop in the East Midlands that secured planning on appeal.
By Liza Helps Property Editor Logistics Matters
THE TWO-unit scheme, comprising of separate 462,500 ft2 and 86,500 ft2 facilities spread over 28.9 acres, will see construction start this month and completion in Q3 of 2025. Both units target BREEAM Excellent and EPC A+ standards.
The greenfield site in Shireoaks secured planning on appeal last year and was considered extremely controversial with more than 600 letters of objection from local residents. It was promoted through planning by Tungsten, Hallam Land Management, and the landowner.
Council planning committee members had rejected the scheme against planning officer recommendations to grant permission in July 2022. An appeal was lodged and the application was granted planning in November 2023.
GARBE UK Country Head & Managing Director Chris Hornung, said “This is an excellent opportunity to capitalise on the dearth of supply of large logistics units of 450,000sq ft plus in the region. This development is in line with our strategy to speculatively develop in undersupplied markets with the added benefit of Worksop providing occupiers with a strong labour pool.”
GARBE and Invesco were advised by agents Atlas Real Estate. Carter Jonas, DTRE and Moriarty & Co have been appointed as joint letting agents.
GARBE, one of the leading specialists for logistics and industrial properties across Europe currently has c. EUR10,6 billion of assets under management, with around EUR2.8 billion in its development pipeline.
