Developer Sterling Capitol has won planning permission to build two warehouses of 600,000 sq ft and 300,000 sq ft at its Capitol Park Goole development in Humberside.
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Devon County Council has secured regeneration specialist St Modwen as the preferred joint venture partner for the development of Skypark to the north of Exeter airport.
Sports company MMA Sports has secured a 26,500 sq ft warehouse at Richard Hayward Properties’ 180,000 sq ft Fabian Park scheme in Swansea.
Indeed King Sturge’s latest Industrial Floorspace Report says: “The level of industrial development under construction on a speculative basis within Greater London has fallen. There is currently some 602,542 sq ft under construction across eight schemes;
The credit crunch has meant that the development pipeline for 2009 is virtually zero with static rents, rising construction costs, softening investment yields and a dearth of development funding all conspiring against developers.
According to Lambert Smith Hampton’s latest National Industrial & Distribution report, rents will drop dramatically by up to eight per cent this year and a further 3.8 per cent in 2010.
According to Jones Lang LaSalle’s latest Western Corridor Industrial/Warehouse Market Report there was a 2 per cent rise in rents seen in Park Royal and Greenford last year.
City Link has pre-let a new 38,000 sq ft distribution hub at Welsh Industrial Partnership’s £7.5m Olympus development on the Central Business Park on Swansea Vale on a 15-year lease.
Falcon Steel has acquired 200,966 sq ft industrial premises on the Westfield Industrial Park at Waunarlwydd in Swansea on a new 20-year lease.
Developers Chase Commercial and Hortons’ Developments have secured consent for a new 71,818 sq ft industrial warehouse on a four-acre site known as “Ashchurch 9” located next to the Ashchurch Parkway Railway station in Gloucester.
