3rd September 2002
VINTAGE DEVELOPMENTS AT PARK SPRINGS

Following the recent successful launch of new Yorkshire Forward industrial units at Park Springs strategic employment site at Grimethorpe, Barnsley, Grimethorpe Regeneration Executive (GRE) reports that there is already serious interest in three of the units, with the fourth and final unit already the subject of a commercial enquiry.

Representatives of the Yorkshire region's commercial property community were recently treated to a guided tour of the £1.6m units at a breakfast reception attended by leader of Barnsley Metropolitan Borough Council (BMBC), Councillor Stephen Houghton, Yorkshire Forward's Head of South Yorkshire Ian Bramley, Barnsley Development Agency's (BDA's) Economic Development Manager Jeff Pickering, and GRE's Shaun Higginbottom.

In addition to the launch event, over 450 property professionals received a piece of direct mail offering the opportunity to win a case of vintage French wine. Respondents had to log onto the new Park Springs website at www.park-springs.com and answer a few simple questions about the development. The response was excellent and the winner was Michael Palmer of Palmer & Co Chartered Surveyors in Leeds. Mr Palmer commented: "The new Park Springs industrial units are of an extremely high quality and are very well served by transport links, so I'm not surprised that there's already strong interest in all four units."



Park Springs is supported with funding from Yorkshire Forward, English Partnerships, European Regional Development Fund (Objective One Programme), Single Regeneration Budget, and private sector investment from UK Coal and Barnsley Miller Partnership.

Shaun Higginbottom of GRE commented: "Rental values at Park Springs are significantly lower than equivalent developments in Leeds and elsewhere, which makes for a compelling proposition when added to the excellent location and potential recovery of eligible costs for investors. Early interest suggests that all four new units will soon be occupied, which will soon start to make a real and tangible contribution to the economic and social regeneration of the area. Many further new jobs will be created on the site over the coming years, as more reclaimed land becomes available to develop."

Park Springs is located alongside the new £9.5m link road which connects Grimethorpe to the A1, M1, and M62. The development lies within an Economic Zone designated under South Yorkshire's Objective One Programme, enabling a significant proportion of eligible costs to be recovered by investors.

Barnsley Development Agency brings together the partnership-based resources to effectively tackle the broad range of economic development and regeneration tasks required to significantly transform the Barnsley economy and the prospects of Barnsley’s citizens over a ten year period. GRE and BDA are working closely together to secure a more positive future for Grimethorpe, with a genuine partnership approach and commitment to a vision of change. Yorkshire Forward is working on the reclamation of several former coalfield sites in South Yorkshire, making land available for housing, industrial and leisure uses, providing new opportunities for communities to develop and grow.


Notes to editors
For more information on Park Springs or GRE, contact Shaun Higginbottom at Grimethorpe Regeneration Executive, The Acorn Centre, 51 High Street, Grimethorpe, Barnsley S72 7BB. Tel 01226 716700, Fax 01226 716499.
E-mail: enquiries@gre.park-springs.com or
shigginbottom@barnsleydevelopmentagency.co.uk



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