Global Firm Says Deal Will Help Create Employment Opportunities In Sheffield

Outokumpu, the global leader in stainless steel production and distribution, has sold 48 acres of redundant land on Shepcote Lane in Sheffield to Peel Logistics Property.

The company, which employs 10,000 people in more than 30 countries, has confirmed that its operations in Sheffield will remain unchanged following the sale of the site which has been valued at approximately €10m.

Martin Pinder, Vice President, Human Resources for Outokumpu in UK commented: “We are glad that we found a buyer for the redevelopment of this cleared unused site located in the prime distribution and industrial area close to the Sheffield Business Park, creating business and employment opportunities in the Sheffield area.” 

The Real Estate team within Irwin Mitchell’s Sheffield office advised Outokumpu on the deal.

Expert Opinion

“This disposal of land represents a superb development opportunity on an unused site which is close to excellent transport links and well positioned within Sheffield’s industrial zone. The deal highlights the strong demand for high quality land within the city and is important as it will ultimately lead to the opportunity, once developed, for other employment opportunities within Sheffield.” Kevin Fox - Partner

Fowler Sandford acted on behalf of Outokumpu marketing the site and agreeing the sale of the land to Peel Logistics Property.

James Bruce of Fowler Sandford said: “This land sale is a great result for all parties involved. It is a very significant transaction, opening up the Shepcote Lane area for future commercial development. The property deal highlights the strong investor interest in Sheffield at the current time. There are a number of high profile commercial deals ongoing in the City Region which will deliver high quality commercial development and future job opportunities. Exciting times ahead!”