Rotherham Investment and Development Office have secured an occupier for a new 30,000 sq ft industrial unit at the Advanced Manufacturing Park at Waverley, Yorkshire.

The unit, located at Harworth Estates’ ‘R-evolution@The AMP’, was bought by X-Cel Superturn Ltd from Rotherham Metropolitan Borough Council for £2.75 million as they triple the size of their operation at the AMP.

Funding for the development came from a £2.7 million loan from the Sheffield City Region Joint European Support for Sustainable Investment in City Areas (JESSICA) Fund and has also funded the new units at R-evolution to speed up its development.

William Church, Director of CBRE Capital Advisors, investment advisor to the SCR JESSICA Fund, said “R-evolution@The AMP is exactly the type of development the Fund (created by the SCR LEP and Local Authorities) was established to provide funding for, one which will benefit the local economy, and where there is clear occupier demand but little interest from the traditional lenders.

“We are delighted that we were able to deliver the necessary financial package, alongside Rotherham Borough Council, to enable this speculative development to happen,” he added.

X-Cel Superturn, who produce precision-machined components to the petrochemical and power generation industries, say this purchase was due to them outgrowing their existing units at the Advanced Manufacturing Park.

“We are delighted to be able to stay on the Advanced Manufacturing Park by moving to a much larger unit on R-evolution,” said Chairman and Managing Director, Andrew Taylor.

“Being located in a prestigious building on the AMP raises the profile of our company, it impresses our customers and makes it easier to recruit and retain skilled staff.”

Owen Michaelson, Chief Executive of Harworth Estates, who are responsible for delivering the units to the council, is delighted to see another key advanced manufacturing company expand at AMP.

“The disposal of three of the five units at R-evolution so quickly justifies our decision to build speculatively and reinforces the strength of demand for high-quality industrial space at the development,” said Owen Michaelson.

“We are accelerating our plans for a second phase of R-evolution on five acres of the 68 acres that remain to be developed for employment use at Waverley. That will be followed by a larger development of up to 300,000 sq ft, called “AMPlify” on a further 21 acres.”

Both R-evolution@TheAMP and X-Cel Superturn are both part of the Sheffield City Region Enterprise Zone and since 2012, 18 new companies have located on the Enterprise Zone with 480 jobs already created on the site and 400 set to be created.