Culina Group division Great Bear Distribution has taken Tritax Symmetry and British Airways Pension Fund’s speculatively developed 334,760 sq ft logistics facility at Central M40 in Banbury. The 3PL has agreed a 15-year lease and will be taking immediate occupation of the building, which is prominently located on the M40. Constructed by A&H, the high-quality…
On the surface, sheds seem to be thriving in the West Midlands, but if you dig a little deeper there are some structural challenges in pairing the right operator with the right space. Liza Helps reports. Availability rose by 61% across all size ranges in the West Midlands by the end of 2019 according to…
Independent plastics distribution business Vink has taken a 21,600 sq ft warehouse unit at Aviva Investors’ Riverside Way industrial scheme in Uxbridge. The warehouse will be used to assist in the company’s expansion strategy. The letting along with two others equating to over 40,000 sq ft of space, mean that the scheme is now fully…
Rent levels are still holding up despite the Covid-19 pandemic, Colliers International reported in its latest quarterly round-up. Two weeks after the typical quarterly deadline, Colliers International’s Property Management team collected 63% of rent and 57% service charge across all property sectors. This compares with a typical quarter at 99.5% and 89% respectively. Industrial occupiers…
Changes in consumer behaviour, driven predominantly by social distancing measures, will continue to stimulate e-commerce related industrial and logistics property requirements according to Colliers International. According to the Office National Statistics online retail sales reached a record high of 22.3% in March and, on a recent webinar. Len Rosso, head of industrial and logistics at…
Developers and investors are looking further east as pressure on land supply continues, but does it matter? Liza Helps reports. Take up of warehouse space in 2019 surpassed 5 million sq ft in the region, and almost 50% of the figure was Grade A space and there seems to be no let-up in terms of…
Warehouse space levels may increase this year, according to the latest research from Colliers International. In terms of new supply, Colliers has tracked 4.4 million sq ft of speculative space under construction. This is on top of the space already or soon to be completed in 2020, which amounts to 3m sq ft but when…
There have been more deals done and more space let and land sold in Greater Bristol during the first quarter of 2020 than in the same period in 2019 according to the latest figures from the Western branch of the Industrial Agents Society. Industrial take up saw 342,740 sq ft of warehouse space let and…
Ferguson Marine Shipyard has taken a 77,000 sq ft warehouse in Greenock, in one of the biggest warehouse deals in Scotland this year. The company has taken a four year lease on the building at 2 Cartsdyke Avenue which will be used to consolidate inventory held in several warehouses near Glasgow Airport and to implement…
Online grocery retail will be a long-term beneficiary of a change in shopping habits induced by the response to the COVID-19 pandemic, experts have predicted, with major consequences for the UK logistics property market. Kevin Mofid, head of logistics and industrial research, at Savills: “In the UK we have already seen consumers flock to purchase…
Property pundits believe speculative warehouse development will stall in 2020. According to latest research from Colliers International investors and developers are expected to slowdown, if not pause, their development pipeline programme to de-risk their financial exposure during the corona virus outbreak. Kevin Mofid, head of logistics and industrial research, commercial research, Savills Kevin Mofid, head…
Latest research by various property consultants and experts indicate that rent levels are set to slow this year and lease terms on new deals will move out. In the UK, the introduction of measures to restrict movement to try to slow the spread of coronavirus will cause significant disruption to activity in the short term…
The COVID-19 pandemic has unleashed an uptick in flexible requirements for industrial and logistics assets according to the latest research from property consultant Colliers. Food production is currently up by 50%, due to panic buying and subsequently, occupiers who manufacture or distribute essential items are in urgent need of flexible space to keep up with…
Darlington Council has granted outline permission for the second phase of Tritax Symmetry’s 90-acre Symmetry Park Darlington in the North East. The second phase of the scheme, following the letting of the first phase totalling 1.5 million sq ft to Amazon, now has outline permission for up to 630,000 sq ft of B1 and/or B2…
Sainsbury’s has sold the 400,000 sq ft former Argos distribution centre at Wakefield Europort, West Yorkshire. Broadland Properties, represented by Carter Towler, has acquired the unit. It will now carry out a full refurbishment of the warehouse and bring to market space between 100,000 sq ft to 400,000 sq ft, available to let from the…
A massive fully-let logistics warehouse at Magna Park Lutterworth has been sold to specialist property investor Ergo Real Estate for just shy of £40 million. Magna Park Lutterworth The 464,824 sq ft cross-docked facility, is let jointly to Renault UK and Nissan until June 2028 at a rent of £5.75/sq ft with a tenant break…
Labelling equipment manufacturer Accraply has taken a 46,265 sq ft warehouse in Irlam, Manchester. The company has taken Patrizia’s Unit 30a Northbank Industrial Estate on a ten year lease at a headline rent of £6.50 per sq ft following an extensive refurbishment programme. The unit comprises a detached single storey unit of 41,090 sq ft…
Albion Land has forward sold the first phase of its Axis J9 scheme in Bicester for more than £24 million to Aver Property Partnership, a joint venture between ERGO Real Estate and NFU Mutual. The first phase is currently under construction and will provide up to 200,000 sq ft of mid box warehouses ranging in…
Logistics Manager understands that Amazon is to be the tenant behind plans for a 2.3 million sq ft mega shed being put forward at Tritax’s 119-acre Littlebrook scheme on the former power station site in Dartford. Plans are being promoted by Bericote – the fund’s development partner at Littlebrook – to Dartford Council for the…
Rent levels for industrial and logistics sites across the North West of England saw an annual growth of 2.2% to the third quarter of 2019, with a further increase forecast for 2020. According to the Rents Map at real estate advisors Colliers International, prime rents for Grade A units are hitting highs of £6.50 per…
St Modwen is reaching the completion of its largest warehouse, at 321,000 sq ft in Tamworth. The new unit, T321, is part of the wider 1,524,600 sq ft logistics site St Modwen Park, Tamworth. The space will be available for immediate occupation and follows the completion of three spec sheds at St Modwen’s flagship development…
Happy New Year to all Logistics Manager readers. Here’s to a prosperous and successful 2020. So, what does this year have in store for all logistics professionals? Here are my predictions. No respite from the B-word… After the election, it’s happening. And let’s face it, it was always going to happen. But what kind of…
UK online retail sales in November and December are being forecast to rise 10.5% year-on-year to £20 billion. According to Colliers International online retail in the UK will top £9 billion in November and £11 billion in December, compared to total online sales of £18.1 billion in the same two-month period in 2018. This represents…
Doncaster Council has approved plans for a 3.5 million sq ft advanced manufacturing and logistics development located at Doncaster Sheffield Airport, (DSA). DSA is one of the largest strategic development zones in the Yorkshire region, owned and managed by regeneration business, Peel L&P. The approval is subject to a S106 agreement and finalising Highways conditions….
Der Bestand an Logistik-, Produktions- und Industrieflächen in Wien und Umgebung beträgt 5.383.290 m². Davon sind 47 Prozent Logistik- und 53 Prozent Produktions- und Industrieflächen. Der Flächenumsatz im ersten Halbjahr 2019 beträgt 27.450 m². Diese Zahlen gehen aus einem Bericht des Vienna Research Forum (VRF) hervor. Das Institut analysiert den Industrie- und Logistikmarkt in Wien…
Developer Trebor Developments and partner, Hillwood, have secured detailed consent for 244,452 sq ft speculative industrial scheme at The site was acquired in 2018 and planning has now been granted for buildings of 33,566 sq ft, 76,627 sq ft and 134,269 sq ft, which will be developed out as a single phase. Work on site…
The availability of warehousing space in the UK, which includes distribution warehouses scheduled for completion in the last three months of the year, increased to around 36 million sq ft – the highest third quarter recording since 2014 according to latest research by property consultant Colliers. Though, it is worth nothing that based on the…
A 538,280 sq ft distribution warehouse built to suit for DHL has been put on the investment market for more than £61 million. The unit will operate as a strategic DHL Supply Chain campus for the East Midlands region and is offered for sale with DHL guaranteeing a 20-year lease following completion of the building…
Property advisor Colliers is forecasting an equivalent rental growth of 4 per cent distribution warehouses for 2019, based on its latest research figures. It also predicts an equivalent rental growth of 6.9 per cent for UK standard industrial with London Standard industrial at a whopping 7.6 per cent increase. Demand for Industrial & Logistics space…
US toy retailer Funko has snapped up the last unit at M&G Real Estate’s Imperial Park in Coventry. The retailer has taken Unit 1, which totals 349,355 sq ft, on a new 10 year lease. The speculatively built property has 15m eaves as well as 34 dock and four level access doors. It boasts 17,530…
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