SY JESSICA FUND

Published 17 August 2021 at 5:07pm

Loca Authority: SCC

Funding Programme: Investment Zone

SYMCA Funding: £3,000,000 / Total Project Value: £34,800,000

Implementation Stage: In Delivery

SY JESSICA (SYJ) is a publicly owned property fund charged to stimulate commercial development in South Yorkshire through both loans and grants (First Loss Loans and Rental Loans). SYJ has identified three developments to support as part of the Investment Zone programme, but required an additional £3m of investment, due to significantly increased construction costs and weak property values.

The three developments, which are all speculative in nature, are: Norfolk St., which will provide 2,032 sqm of Grade A office space within Sheffield City Centre; Dorehouse, which will provide 2,789 sqm light industrial space across 10 units within one mile of the Advanced Manufacturing Park; and Rocking Business Park, which will provide 7,153 sqm of light industrial space across 7 units within the M1 J36 Opportunity Site.Utilising delegated authority granted by MCA Board in January 2025, funding for the project was approved by Programme Board on 2nd April 2025.