Riverview, which comprises offices, industrial and a showroom in 3.3 acres, was jointly developed by Sladen Estates and Peveril Securities. It is the third and final phase of the successful Quest Park development.
The Sheffield-based property agency Commercial Property Partners (CPP) advised on the deal.
Roger Haworth, partner with CPP commented: Quest Park has already established itself as one of the most popular and successful business parks in the Doncaster area. Just one mile from Doncaster town centre, and situated on the accessible A630 Wheatley Park Road, it overlooks the River Don. Tenants include Toyota, Nissan, Audi and Dulux.
So it’s not surprising that Riverview has been snapped up. It has tremendous potential. Featuring a showroom, which is suitable for a number of trade and leisure uses, a variety of self-contained offices (up to 25,000 sq ft) and a standalone industrial unit (up to 45,000 sq ft), it is bound to prove exceptionally popular to potential occupiers.
George Marshall of Marrtree said: We believe this is an excellent investment opportunity. Apart from being close to Doncaster town centre, with superb rail links to London, York and Newcastle, Riverview is also just 10 minutes from Junctions 3 and 4 of the M18 and Junctions 36 and 37 of the A1.
As well as enjoying an excellent location and high visibility on one of the main arterial routes in and out of Doncaster, we feel that our tried and tested product will be well-suited to the site. Geographically this is the first time we have invested in the Doncaster area and Riverview was a good fit for our expanding property portfolio, which is evenly spread across the North of England.
Mr Haworth added: This is a significant deal, underlining the growing strength of the South Yorkshire commercial property market. It is apparent that the dark days of the recession are now behind us and we are seeing very encouraging signs of recovery within the market.
Both occupier and investor activity have improved significantly over recent months, thanks to the combination of renewed confidence, competitive pricing and excellent transport links in the region. The Riverview deal is a classic example of this new confidence.