Occupier News

  • Pet food operator Golden Acres has taken BA Pension Fund/Evanders Revolution Park, Chorley on a 10 year lease at £5.50 per sq ft. This was a speculative development which was completed in Nov 2015.
  • We are also aware that Designer Habitat have agreed to a 130,000 sq ft Leasehold D&B building at Agecroft, Salford this is a JV between the HCA and Barnfield Construction. Its rumoured to be a 10 year lease at £5.50 per sq ft with 12 month’s rent free.
  • Moran Logistics have taken building H1, Heywood Point, Heywood Distribution Centre a 67,000 sq ft brand new warehouse on a 10 year term at £6.15 per sq ft. Landlords are Harbert.
  • Arcadia have taken c. 400,000 sq ft at DIRFT from Prologis, this was a Freehold turnkey unit.
  • Gestamp have acquired a 538,000 sq ft manufacturing unit at Four Ashes, Wolverhampton, this is funded by Tritax and the rent is £5.25 per sq ft.
  • Amazon continue to grow with acquisition in the Midlands, the most recent being 105,000 sq ft in Doitwich, and 161,000 sq ft at Grange Park Northampton at a rent of circa £6.10 per sq ft.
  • Amazon have taken a 2.2 million D&B unit in Tilbury which is designed over four floors along with a speculative 360,000 sq ft unit in Dunstable to neighbour their existing facility. 4PX have also taken on 240,000 sq ft at Dunstable 240, both units were developed by Prologis.
  • Amazon have completed the acquisition of 108,000 sq ft at the newly developed Graviton Park owned by Wrenbridge, the original quoting rent was at £8.95 per sq ft.
    Amazon have also taken 128,000 sq ft at Tower Thurrock on a new 10 year lease – the quoting rent was at £8.25 per sq ft.
  • Amazon have taken 383,000 sq ft at J4M8 form Logicor (Colliers acted for Logicor)/ Whyte & Mackay have acquired DC2 (126,000 sq ft) from Asda (Colliers acted for Asda).
  • LIDL acquired 30 acres at Central Park in Avonmouth to develop a 600,000 sq ft distribution centre. Colliers International acted on behalf of LIDL for the acquisition. 
  • Amazon have recently exchanged on 203,925 sq ft at South Marston Park in Swindon.
  • Cooper Tires exchanged on new 5 year lease at the Spectrum building in Swindon which extends to 209,720 sq ft.
  • James Latham have exchanged on the purchase of a new 60,000 sq ft unit at Apollo Park in Yate. Colliers International acted on behalf of the developer Chancerygate. 

Development News

  • No planned development in the East of Scotland – shortage looming.
  • Plans have been submitted by Peel Logistics to build a 50,000 sq ft regional HQ for Rhenus Logistics at Port Salford.
  • M&G have started on site at Imperial Park in Coventry for a three unit scheme of 64,000, 165,000 and 346,000 sq ft, expected delivery is the end of Q1 2017.
  • IM have completed the build of two speculative units at Birch coppice, one of 63,000 sq ft and another of 282,000 sq ft.
  • Hodgetts Estates with First Industrial have launched their scheme Core 42 in Tamworth with detailed consent for a unit of 345,000 sq ft.
  • Chancerygate have completed the purchase of 6.6 acres in Sidcup and are currently in for planning permission for the development of units from 3,150-46,000 sq ft.
  • Albion Land have secured planning for 500,000 sq ft for development at Link 9 Bicester.
  • Ibstock have brought their 64 acre site in Avonmouth to the market, and intend to take this to best bids at the end of the year. 
  • Mountpark have completed the purchase of 20 acres at Central Park in Avonmouth. They will speculatively develop three units totalling 408,250 sq ft, which will be available from April 2017. 
  • Davies Turner have completed the purchase of 12 acres at Central park in Avonmouth and intend to build 140,000 sq ft of distribution space. 
  • St Francis group are speculatively developing six units at Horizon 38 in Filton, Bristol which will extend up to 115,600 sq ft. This will form part of Phase A in the development with a further three phases expected over the next couple of years.

Investment News

  • The Airport City Manchester joint venture has agreed a forward sale of logistics facility ALPHA to LaSalle Investment Management for £12.2 million. This a new speculative development of six units ranging from 17,000 – 35,000 sq ft totalling 135,000 sq ft. Completion likely to be Q2/Q3 2017.
  • Threadneedle are under offer on Units 1-11 IO Centre, Cabot Park in Avonmouth for £9,255,000 reflecting a net initial yield of 6.32%. The 104,340 sq ft estate comprises 12 units and generates an income of £624,061 per annum.
  • Surrey County Council acquired Units 5, 6A and 6B Bristol Distribution Park for £11,218,900 reflecting a net initial yield of 6.38%. The units extend 125,514 sq ft in total and are let to DST Output (Bristol) Limited and ABB Limited generating an income of £680,138 per annum and providing an AWULT of 9.1 years to lease expiry.
  • Epic Staunton LLP acquired Unit 10C Viscount Way on South Marston Business Park in Swindon for £8,075,000 reflecting a net initial yield of 6.53%. The unit extends to 100,000 sq ft in total and is let to Callaway Golf Europe Limited generating an income of £562,484 per annum and providing an AWULT of 6.3 years to lease event.

Inside the market

  • Peel Logistics have announced that the Directors of Evander Properties (Evander), Jeremy Greenland and Neil Dickinson, will become shareholders and assume senior leadership positions within Peel Logistics.
  • Colliers Birmingham have been instructed to sell 200,000 sq ft of warehouse space in Stratford upon Avon on behalf of DCS Group.
  • Colliers International have been instructed by family owned company Williams Fishwick and Son Ltd to market an 8-acre D&B site, which has planning for a 132,000 sq ft warehouse at Haydock Industrial Estate, Haydock.
  • Colliers were shortlisted as Industrial Advisor of the year at the EG Awards.
  • The proposed new junction on the M49 motorway at Avonmouth is due to be announced at the end of the year, with construction intended to start in late 2017. This will further promote Avonmouth as the distribution hub for the South West.
  • The recent Government approval of Hinkey Point at Bridgwater will have a positive impact on the South West economy, creating 25,000 jobs for the construction alone. We expect to receive an increase in demand for industrial space as a result of this project. Hinkley could begin generating electricity for the UK market by 2025.