There is a growing trend among developers to provide cross-docked facilities to the market not just on a design and build basis but speculatively. There are now several due to complete and to compete for that elusive occupier.
ProLogis Developments is building a 525,000 sq ft warehouse unit in Barnsley on a 36-acre former coalmine site it acquired from Harworth Estates. The joint agents are CB Richard Ellis and Fuller Peiser.
Mark Fitzpatrick of CBRE said: “Most facilities only offer dock loading on one side of the building but, from an occupier’s point of view, it’s much more flexible and efficient to have cross docking, which is why ProLogis has incorporated it into the design.” The building will boast 81 dock levellers, 4 level access doors, a 50kn/sq m floor loading and 15m eaves height. The joint agents are quoting £3.95 per sq ft.
Roger Haworth, NAI Fuller Peiser said: “ProLogis is listening to what the market wants, and it wants cross dock facilities for improved operations. That means there needs to be 50m either side of the building giving a site coverage of 32 per cent. The site cover norm is usually 40-45 per cent so there is a large a premium to achieve a cross dock facility but makes it more marketable and could save in a 12 month void!”
In direct competition to the ProLogis scheme is HelioSlough’s 750,000 sq ft unit at Nimbus Park, which has been forward funded to the tune of £45m by CBRE Investors. The quoting rent is £4.75 per sq ft through agent King Sturge.
The building on completion will boast 92 dock-level entry doors, 113 dedicated trailer parking spaces, three-storey offices, a gatehouse-controlled entrance, HGV vehicle wash and refuelling facilities. A dedicated railway siding could also be incorporated to the development to facilitate rail freight transport.
Gazeley is also bring forward a cross-docked facility at its G.Park Newark, where it has planning permission a total of 768,000 sq ft of new warehouse accommodation delivered either as a single bulk facility or arranged as two separate units of 515,000 sq ft and 275,000 sq ft.
A separate planning application on the site is for the dedicated cross-dock unit, which would total 470,000 sq ft – suitable for more than one occupier – plus a 200,000 sq ft (18,580 sq m) warehouse.
Joint letting agents Jones Lang LaSalle and Colliers CRE are currently seeking pre-let, agreements at a quoting rent of £4.25 per sq ft. Gazeley purchased the 39-acre site located in Newark-on- Trent, Nottinghamshire from British Gypsum in January 2004.
In the North West, Pochin Developments has started on site with a 350,000 sq ft speculative warehouse at MidPoint 18 in Middlewich, Cheshire.
With high specification design and cross-docking facilities, the unit will be of the highest standard, says Pochin. This has attracted Pochin’s joint venture partners Northridge Capital, as investment director John Yeend, explains: “Northridge continues to back expert developers in speculative schemes where the occupational market is well balanced. We have no doubt that the new warehouse at Midpoint 18 will prove attractive to occupiers.” Lamonts and Matthews and Goodman are joint agents at the site.
There are now several due to complete and to compete for that elusive occupier.
ProLogis Developments is building a 525,000 sq ft warehouse unit in Barnsley on a 36-acre former coalmine site it acquired from Harworth Estates. The joint agents are CB Richard Ellis and Fuller Peiser.
Mark Fitzpatrick of CBRE said: “Most facilities only offer dock loading on one side of the building but, from an occupier’s point of view, it’s much more flexible and efficient to have cross docking, which is why ProLogis has incorporated it into the design.” The building will boast 81 dock levellers, 4 level access doors, a 50kn/sq m floor loading and 15m eaves height. The joint agents are quoting £3.95 per sq ft.
Roger Haworth, NAI Fuller Peiser said: “ProLogis is listening to what the market wants, and it wants cross dock facilities for improved operations. That means there needs to be 50m either side of the building giving a site coverage of 32 per cent. The site cover norm is usually 40-45 per cent so there is a large a premium to achieve a cross dock facility but makes it more marketable and could save in a 12 month void!”
In direct competition to the ProLogis scheme is HelioSlough’s 750,000 sq ft unit at Nimbus Park, which has been forward funded to the tune of £45m by CBRE Investors. The quoting rent is £4.75 per sq ft through agent King Sturge.
The building on completion will boast 92 dock-level entry doors, 113 dedicated trailer parking spaces, three-storey offices, a gatehouse-controlled entrance, HGV vehicle wash and refuelling facilities. A dedicated railway siding could also be incorporated to the development to facilitate rail freight transport.
Gazeley is also bring forward a cross-docked facility at its G.Park Newark, where it has planning permission a total of 768,000 sq ft of new warehouse accommodation delivered either as a single bulk facility or arranged as two separate units of 515,000 sq ft and 275,000 sq ft.
A separate planning application on the site is for the dedicated cross-dock unit, which would total 470,000 sq ft – suitable for more than one occupier – plus a 200,000 sq ft (18,580 sq m) warehouse.
Joint letting agents Jones Lang LaSalle and Colliers CRE are currently seeking pre-let, agreements at a quoting rent of £4.25 per sq ft. Gazeley purchased the 39-acre site located in Newark-on- Trent, Nottinghamshire from British Gypsum in January 2004.
In the North West, Pochin Developments has started on site with a 350,000 sq ft speculative warehouse at MidPoint 18 in Middlewich, Cheshire.
With high specification design and cross-docking facilities, the unit will be of the highest standard, says Pochin. This has attracted Pochin’s joint venture partners Northridge Capital, as investment director John Yeend, explains: “Northridge continues to back expert developers in speculative schemes where the occupational market is well balanced. We have no doubt that the new warehouse at Midpoint 18 will prove attractive to occupiers.” Lamonts and Matthews and Goodman are joint agents at the site.
