Sheffield developer Jaguar Estates and remediation company Euro Dismantling Services have teamed up to buy a 27-acre site in Rotherham.
The joint venture, which was appointed preferred developer of the site in November 2004, has agreed to buy it from steelmaker Corus for around £5.4m.
It is planning a £35m office and industrial scheme called Magna 34 Business Park at the site of Corus’s former plant, Templeborough Rolling Mills, which was closed in 1998.
Jaguar and EDS will jointly develop 70,000 sq ft of offices and 250,000 sq ft of industrial and distribution space on 19 acres of the site.
EDS will relocate to the remaining 7.8 acres from its existing UK headquarters at Loxley Manor.
A planning application is expected to be submitted in the next six weeks.
Jaguar director Patrick Herbert said: “We are delighted with the purchase. It will provide Jaguar and EDS with an excellent opportunity to develop a strategic site close to the M1 corridor.”
All parties represented themselves in the transaction.
GVA Grimley and Knight Frank will advise on lettings at the proposed business park.
References: EGi News 27/02/06
