A partially Grade II listed Penistone heritage site that has been derelict for years has been acquired by a South Yorkshire business that plans to invest in and renovate the area, restoring the local ‘eyesore’ to its former glory.
Family-run, Barnsley-based property and land specialists, Fairbank Investments Ltd, have acquired the Coal Drops, signal house, and former railway siding site at Penistone in Barnsley, signalling a new chapter of growth and development for the area.
The Coal Drops, which are located west of the bridge under Penistone Woodhead Railway, were Grade II listed in 1988. It is thought the six-arched stone segmented structure dates back to the mid-19th century.
The acquisition of the circa one acre development which is located on St Mary’s Street in Penistone, will introduce numerous positive changes to the area and will bring it into line with other development work and projects.
Restoring the unique and culturally significant location will also create a significant number of jobs as well as future prosperity for the site, which has fallen into a state of disrepair.
Through the site acquisition, Fairbank Investments Ltd has fully committed to developing the site, to benefit the local economy and the environment. The company has a track record of successful, sustainable development projects such as the old David Brown factory in Penistone revitalising the site by transforming it into a new business park with 15,000 sq ft of offices and a further 66,000 sq ft of warehouse space, creating new jobs and attracting multiple businesses to the area, prioritising eco-friendly design and building practices.
Antony Green, managing director of Fairbank Investments Ltd commented: "The Coal Drops is a hugely important site of cultural and historical interest in Penistone and we want to help preserve this heritage, rather than see the site continue to fall into further disrepair. We are thrilled to be taking on this new project and are looking for the co-operation of neighbouring land owners to enable us to deliver a scheme that will benefit Penistone.
"As a business, we are passionate about supporting local communities, and we believe that this iconic restoration of the Old Signal House and Coal Drops will be a major step forward for the area. We're excited to bring new businesses, jobs, and opportunities to the region, while also prioritising sustainability and environmental responsibility wherever possible."
The Coal Drops, signal house and former railway siding site represents a prime location with significant mixed-use development potential. Active planning consent for residential development on the goods yard section of the site is under full review given the wider plans for the scheme. As part of the planning phase of the project, led by Fairbank Investments Ltd, working with M Booth Design Ltd, consultations are ongoing with local authorities and community groups to ensure that any new development fully aligns with the requirements of the entire community of Penistone.
In addition to the economic benefits of the development scheme, Fairbank Investments Ltd is also committed to minimising its environmental impact. The company plans to use sustainable building practices and technologies throughout the site clear and build, including renewable energy sources, to reduce the carbon footprint of the development.
Added Antony Green: “As a responsible business, Fairbank Investments Ltd has a proven track record of implementing successful development projects, particularly where restoration and heritage preservation is concerned. The acquisition of the Coal Drops, signal house, and former railway siding site is sure to be another major success story that will see the whole area transformed into a thriving and progressive development. We’re very excited to help bring new growth and prosperity to the region and are looking forward to working closely with the community to make the project a resounding success.”
