Agency – TATA Steel: UK
LOCATION: SWINDEN TECHNOLOGY CENTRE ROTHERHAM
CLIENT: TATA STEEL UK
COMPLETION DATE: Q4 2018
VALUE: C.£9 MILLION
CONTRACT TYPE: STRATEGIC REVIEW
- Identified the site as underutilised.
- Advised on the possibility of relocation including costs etc
- Promoted the site through the local plan to get it allocated for residential.
- Planning now submitted for 130 houses with officer recommendation.
- Likely end value £9million against book value of £2million.
- Harris Lamb have worked as property advisors to British Steel, Corus and now Tata Steel UK over a period of 20 years.
- Harris Lamb have disposed of and acquired several substantial assets during this period including manufacturing and stockholding facilities, and office premises.
- Harris Lamb undertook a strategic review of all the freehold property owned by Tata Steel UK throughout the UK (excluding Scotland) over a 3 month period.
- The resulting report provided a traffic light system for each site, red operational therefore not saleable, orange medium term opportunity for development / added value and green no opportunity for added value and non-operational therefore sell immediately.
- Currently bringing to the market over 200 acres nearly 2000 residential units across 23 sites.
- A good example would be:- Swinden Technology Centre Rotherham
- 6.9ha (17 acres ) Manor House, Office blocks and laboratories.