Trammell Crow Company Acquires 20-Acre Logistics Site in Sheffield, England
October 4, 2021
The site, located on Shepcote Lane 0.5 miles from Junction 34 of the M1 motorway, includes a facility comprised of 455,750 square feet, formerly leased to fencing manufacturer Betafence, and has an existing planning consent in place. TCC intends to obtain a new planning consent to replace the existing building with a speculative 365,8140-square-foot Grade A logistics facility.
“Sheffield is one of the most sought-after strategic logistics locations in the UK, with high demand set against very constrained supply,” said Mike Forster, Director and Head of UK logistics for TCC. “Coming just weeks after our debut European acquisition, this site represents an exceptional redevelopment opportunity in a sub-region that accounted for 18.3% of the national take up of Grade A logistics buildings in 2020 and currently has a vacancy rate of less than 0.5%. We are actively looking for further opportunities on brownfield and greenfield sites in strategic locations across Europe.”
Located in an established industrial area with an existing logistics allocation, the site has excellent transport communications and a 1.4 million working population within an hour’s travel. The area has recently attracted tenants such as Clipper Logistics, Pretty Little Thing, ITM and Great Bear.
CP Partners represented TCC in the acquisition.
Trammell Crow Company
Trammell Crow Company (TCC) is a global commercial real estate developer and wholly-owned subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas. Founded in 1948, TCC has developed or acquired nearly 2,900 buildings valued at $75 billion and over 655 million square feet. As of September 30, 2023, TCC had $15.4 billion of projects in process and $14.5 billion in its pipeline. It employs 650 professionals in 28 major cities throughout the United States and Europe. The company serves users of and investors in office, industrial/logistics, healthcare, life sciences and mixed-use projects, as well as multi-family residential through its operating subsidiary High Street Residential. For more information visit www.TrammellCrow.com.