Leases have been signed on two of the three recently-built industrial units at Dunsbury Park, Havant – a business park developed by Portsmouth City Council within the Solent Freeport zone. The first new tenant is automotive company Inchcape, which has taken a 19,017ft² unit at the site. It plans to use this facility as a…
Research from Colliers has found that UK industrial land values have, on average, risen from £1.5 million per acre in the first quarter of the year to £1.8 million per acre in Q3 3023. According to Colliers’ Industrial Rents Map, “UK average prime headline rent for large distribution warehouses (100,000ft²+) rose by 6.6% (six-monthly growth)…
Construction of two new warehouse units has begun at Canmoor’s 13-acre site next to Glasgow Airport. Muir Construction has been appointed as the main contractor for the new £25 million speculative development project at Canmoor’s Westway scheme. It will see the development of an 86,630ft² warehouse to be called ‘Westway 90’ and a 202,230ft² unit…
Real estate company Savills is anticipating that the global industrial property investment market will “return to normal” before the end of the year. This, it says, will come “as the interest rate hiking cycle bottoms out and global inflation cools”. According to Savills, global investment volumes in the industrial and logistics property sector were 10%…
Commercial real estate firm Colliers has predicted that UK rental values ‘across the market’ will rise by 5% this year. This is in spite of a ‘slow-down’ of occupier take-up, highlighted this week by the news that Q2 2023 was the weakest quarter for logistics property take-up since 2017. Colliers says that, according to data from…
Food and drinks packaging supplier Max Fame Paper Products has agreed a new ten-year lease on a 21,500ft² logistics building at Wain Estates’ 211,000ft² Carrington Gateway scheme in Greater Manchester. The firm, which manufactures packaging for UK brands including HHG, Marks & Spencer, and Harrods, also has clients based in Europe, America and the APAC…
Construction has started on Blackbrook and Rula Developments’s speculative state-of-the-art 405,411ft² distribution and logistics facility in South Yorkshire known as Eclipse, Doncaster. Building contractor Bowmer & Kirkland has been appointed to deliver the scheme while CBRE and Colliers, are joint agents. The development which is scheduled for completion in January 2024 is expected to achieve…
Developer Tritax Symmetry has submitted plans for the 930,000ft² third phase of its Symmetry Park Biggleswade scheme in Bedfordshire. The decision to push forward follows the successful letting of the final two speculatively developed units on Phase Two, prior to practical completion, to Bidfood and Bowman Ingredients. Bidfood, one of the largest food wholesalers in…
Logistics real estate developer Panattoni has secured planning consent for a 417,570ft² speculative logistics development at Doncaster. Doncaster Council has approved Panattoni’s planning application for the facility, called Panattoni Doncaster 420, which will be one of the largest speculative logistics facilities across the Yorkshire region. Panattoni will shortly commence speculative development of Panattoni Doncaster 420,…
Proposals for a 650,000ft² plus industrial and logistics scheme in North Yorkshire have secured planning approval. Eshton Group in association with Castlevale won the approval for the 52-acre business park in Catterick at Junction 52 of the A1M motorway recently. The £100m development is to be branded Catterick 52 and will be aimed at industrial…
Property and construction group Russells is launching its 1.45 million ft2 HPark scheme in Greater Manchester in January. HPARK is a 120-acre logistics and industrial park in Heywood providing floor space across six prime Grade A units ranging in size from 39,000ft2 to 688,000ft2. Cosmetic company L’Oreal had been linked to the largest unit on…
Retail supply chain specialist Noatum Logistics has taken a speculative warehouse on the second phase of developer Tritax Symmetry’s 95-acre Symmetry Park Biggleswade scheme, two months before practical completion of the unit. The 230,000ft2 building, the largest unit on phase two at the Park, was let on a 15-year lease and comes after the company…
US-based real estate company Bridge Industrial has secured planning consent for a 62,000ft2 urban logistics warehouse at Bridge Point, Croydon in South London. Located on Factory Lane, the new development will target a BREEAM Excellent rating. Built to a Net Zero Carbon design, the building will be developed using the most sustainable materials and will…
Frozen food and grocery supermarket chain Farmfoods has snapped up Tungsten Properties’ 246,134ft2 net zero carbon industrial unit ‘SuperW’ in Warrington, North West, to help it increase distribution efficiency as the group continues with its expansion. The group has taken a 25 year lease on the facility, which is rated BREEAM Very Good and achieved…
Developer Verdion has announced a £300 million speculative development programme that will deliver all remaining warehouse capacity at iPort, its 6 million ft2 multimodal logistics hub just outside Doncaster. Totalling 1.75 million ft2, this final stage of development at iPort will offer five buildings from 82,000ft2 upwards, with delivery from June 2023. The largest of…
Pan-European logistics real estate developer Verdion has completed the latest speculative warehosue at its 6 million ft2 iPort multimodal logistics hub in Doncaster. The 259,266ft2 warehouse, known as iP10, is the final completion in this latest round of speculative development, which also included two buildings leased to Woodland Group and Euro Pool Systems respectively. The…
Tritax Big Box REIT’s logistics development company Tritax Symmetry is set to speculatively build a state of the art, 132,750ft2 logistics building on the last remaining plot at Symmetry Park Doncaster in South Yorkshire. The news follows a major deal with B&Q which is taking a 430,240ft2 warehouse and distribution facility that is already well…
A joint venture between urban logistics developer Chancerygate and real estate investor Hines has forward sold a 172,000ft2 logistics scheme in Dagenham, to a fund managed by BlackRock, prior to construction. The 6-acre scheme known as Zephyr Park is set to be built speculatively with construction starting in August this year with practical completion in…
Portsmouth Council is promoting a new speculative scheme for Solent Freeport. The speculative development at Portsmouth Council’s 45-acre Dunsbury Park scheme comprises three new detached self-contained units of 18,965ft2, 26,242ft2, and 32,507ft2. The buildings are being constructed to a high specification including 12m clear internal height, first floor fitted offices, generous yard and parking provisions,…
Developer Panattoni is planning a £250 million speculative logistics development, in Avonmouth, Bristol. The development, called Panattoni Park Avonmouth, will be located on a 73-acre site at Central Park, which Panattoni has just acquired in an off-market deal. Panattoni will commence speculative development of 1.3 million ft2 of consented space in two units of 406,000ft2…
Global logistics company Woodland Group has taken another warehouse at Verdion’s 6 million ft2 iPort scheme in South Yorkshire. Woodland Group has taken the 130,458ft2 warehouse, known as Unit iP1b, on a 10 year lease. The facility will be fully operational from this week onwards. It is the second building it has taken at iPort…
Developer Panattoni has submitted plans for one of the largest speculative logistics facilities in South Yorkshire this year. The application is for a 417,570ft2 warehouse to be known as Panattoni Doncaster 420, next to Doncaster Sheffield Airport. Panattoni bought the 18.4-acre site with outline planning consent from Peel L&P in March. Panattoni Doncaster 420 will…
The increase in rents for warehouse space is continuing to accelerate as supply levels become more acute according to the latest research from property consultant Colliers with rents in March alone increasing by 1.9%. The low supply environment continues to dominate the industrial sector with April availability standing at only 19.7 million ft2, down 22.4%…
Real-estate investment company, Aprirose, has added to its growing portfolio of industrial and logistics assets with the acquisition of a 12-acre development in a strategic location in Wigan for an undisclosed price. Comprising a 45,000ft2 industrial unit on a 12-acre site on Makerfield Way in Wigan, Greater Manchester, strategically located between the M6 and M61…
Specialist logistics business Bishopsgate has pre-let at Rula Developments and Urban Logistics REIT’s 120,815ft2 warehouse development in Golborne, Warrington in the North West. The 3PL though its parent company Master Removers Group has secured a 15 year lease at a rent of £7.75 per ft2. Bishopsgate is expanding from its current warehouse at Eagle Park,…
Investor London Metric has is upping its exposure to redevelopment opportunities through the acquisition of smaller vacant stock and other asset management opportunities to increase its urban warehouse offering. The company has secured three vacant warehouses in Colliers Wood, Stratford and Stockwell, which it intends to refurbish or redevelop to provide modern Grade A urban…
Plans for a 900,000ft2 plus industrial and logistics scheme have been submitted by developer Eshton Group, in association with Castlevale, for a 52-acre site in Catterick, North Yorkshire to be known as Catterick52. The 931,000ft2 scheme is one of the largest to be proposed in North Yorkshire and is located adjacent to Junction 52 of…
Property consultant, Colliers and Lambert Smith Hampton, have been appointed by Associated British Ports (ABP) to bring to market 30 acres of land at the Port of Southampton. The sites are designated for around 700,000ft2 of manufacturing or logistics development. The land is split across two locations: the 22-acre Redbridge site, which benefits from Freeport…
Global fitness technology and GPS-enabled products company Garmin has snapped up a 100,206ft2 warehouse in Southampton. The company has taken Columbia Threadneedle’s Proximity warehouse, which is located on a four-acre site close to the M3/M27 motorway. The secondhand unit has 12.5m eaves as well as two self-contained 35m and 30m yards. It has five dock…
Prime Grade A big box rents in industrial and logistics spaces are expected to reach in excess of £7.50/ft2 this year due to sustained demand for space, and a lack of new supply. According to commercial real-estate firm Colliers’ latest Industrial & Logistics Viewpoint, although the pandemic had originally stalled demand in the South West…
