The perception that there are a lot of big sheds and not much demand in the North West is, like most generalisations, not strictly true.
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It’s as much an occupiers’ market as it has ever been,” says Richard Sullivan of Savills commenting on the increase in available warehouse space along the M4 corridor, particularly around Heathrow.
There is more available space than ever before standing at 230,457,680 sq ft as of December 2007, according to the latest statistics from King Sturge’s Industrial Floorspace Today survey.
In a deal that was turned around in just over a week, sports retailer JJB Sports moved into a 100,000 sq ft unit on SEGRO’s Heywood Distribution Park near Manchester.
UK average prime rents have reached £7.40 per sq ft, up 1.8 per cent year-on-year according to the latest research by Colliers CRE.
The government has delayed the introduction of Energy Performance Certificates.
Revelan Group has bought a vacant 94,121 sq ft industrial facility in Lichfield, Staffordshire from Wavin UK.
James Timms Transport has taken a 62,500 sq ft distribution and storage building at St Modwen’s 24-acre Quedgeley East estate, Glouceste, on a three-year lease at rent of £124,000 a year.
Gladman Developments has completed the main phase of construction on two distribution warehouses of 140,000 sq ft (G-Space 140) and 58,000 sq ft (G-Space 60) on a 12.11-acre site at Saxham Business Park, near Bury St Edmunds, Suffolk.
Glass merchant and manufacturer Ultra Tough has taken a 15-year lease at a rent of over £600,000 a year, for 102,219 sq ft of space at Falcon Property Trust’s Capital Connect warehouse in Welham Green.
