The South Yorkshire JESSICA Fund, managed by CBRE, has completed development loans totaling £16.85 million ($21.9 million) for projects in Sheffield and Doncaster, taking total funding deployed by the fund to more than £100 million ($130 million).
The first transaction comprises £8.8 million ($11.4 million) in development funding to support a 21,000-square-foot class A office project on Norfolk Street in Sheffield city center. The development is expected to achieve net zero, a BREEAM Excellent rating and an Energy Performance Certificate (EPC) A rating while addressing demand for centrally located office space following the success of the Heart of the City development.
The second transaction comprises £8.05 million ($10.5 million) in development funding to support an 83,000-square-foot industrial project at First Avenue, GatewayEast, in Doncaster. The development will comprise 14 units ranging from 2,500 square feet to 18,500 square feet.
The project builds
