Waystone Hargreaves Land, the joint venture behind the 650-acre Unity project in Doncaster, has exchanged contracts with Aver Property LP for the sale of two units on the development.
The company is set to purchase two plots of 19 acres and 10 acres which, on legal completion, will generate combined revenue in excess of £50m for the JV.
The two distribution and industrial units comprise 191,000 sq ft and 375,000 sq ft respectively and will both be located on Unity Connect, which is the dedicated employment area of Unity located immediately adjacent to junction 5 of the M18 motorway.
The area has outlined planning permission for industrial and logistics space and forms part of wider planning permission for two million sq ft of commercial space and 3,100 homes across the Unity development site.
Both transactions are conditional upon the grant of detailed planning permission and are expected to become unconditional before the end of 2022 and be completed within 12 months of commencement of construction.
The industrial and distribution scheme follows on from the April 2021 completion of the sale of a 79-acre development site for a regional logistics hub to a national retailer and represents a further acceleration of the Unity project.
Elsewhere, Hargreaves Services has exchanged a contract at Blindwells for the sale of 4.6 acres to regional housebuilder Ogilvie Homes.
This latest exchange follows the recently completed sale to Persimmon and will create 77 homes, including 23 affordable, generating a minimum revenue of £3.5m.
Roger McDowell, non-executive chairman of Hargreaves, said: "The board is delighted to see further progress being made at Unity by the Hargreaves Land team and our Waystone partners. This is another positive step towards realising the inherent value of the group's substantial land portfolio."
For further details contact Business Doncaster on 01302 735555.
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