Strategic land supply is a key problem in Scotland but there are encouraging signs of developer interest, reports Charlie Jacoby.
Browsing: Property
The Barker Review of the UK’s planning system has just published its interim report. Andy Griffiths, deputy managing director of ProLogis Developments, highlights the key issues for the industry.
Catesby Property Group has recently acquired a five-acre site alongside the M6 and close to the centre of Birmingham on which it plans a £8 million distribution scheme. A detailed planning application for two 50,000 sq ft buildings has been submitted.
Development is underway again at Eurocentral, the giant distribution park that nestles conveniently between the M8 and the M74 on the eastern side of Glasgow.
Current planning regulations are too complicated and do not reflect the increasing demands put upon businesses, according to interim findings of an independent review into the English land use planning system.
Slough Estates, new owner of Heywood Distribution Park near Manchester, is to build speculatively there.
One in eight US property investors plans to buy in the UK.
At 497,583 sq m in 17 units across Britain, the level of take-up in new units of 10,000 sq m and over in the first three months of 2006 reached the highest level recorded in the first quarter of any year over the past ten years, says King Sturge.
Gazeley and Land Securities joint venture partnership, has been granted planning consent for Nova MK – a £340 million logistics park in Milton Keynes. The 241 acre site will provide 3.4 million sq ft of new industrial and distribution accommodation.
Store Property Investments has let a 23,000 sq ft warehouse to Cannon Hygiene at Bar End in Winchester, Hampshire. The OCS Group subsidiary is taking Unit E on a 15-year lease with a break at ten years.
