Property – Logistics Manager Magazine https://www.logisticsmanager.com Pan-sector news, insight and analysis for logistics practitioners and supply chain strategists Thu, 19 Sep 2019 10:31:08 +0000 en-GB hourly 1 https://wordpress.org/?v=5.2.3 Kammac takes Knowsley shed https://www.logisticsmanager.com/kammac-takes-knowsley-shed/ https://www.logisticsmanager.com/kammac-takes-knowsley-shed/#respond Thu, 19 Sep 2019 10:31:08 +0000 https://www.logisticsmanager.com/?p=39196 3PL Kammac has taken Threadneedle’s Knowsley 200 warehouse in Knowsley Business Park, in Merseyside. The firm has agreed a new five-year lease at a rent of around £3.25 per sq ft just shy of £650,000 a year. The building, which was refurbished in 2017, provides a self-contained industrial unit with ground floor office and amenity […]

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3PL Kammac has taken Threadneedle’s Knowsley 200 warehouse in Knowsley Business Park, in Merseyside.

The firm has agreed a new five-year lease at a rent of around £3.25 per sq ft just shy of £650,000 a year.

The building, which was refurbished in 2017, provides a self-contained industrial unit with ground floor office and amenity block, within a fully fenced and secure unit extending over a site of 11 acres. It has 10 dock and three level access doors, and a 5-7m eaves height.

Knowsley 200 is located on Knowsley Business Park, next to the A580 and junction 4 of the M57. The park totals more than 1,200 acres of employment land six miles from Liverpool. Nearby occupiers include Matalan, Hermes Parcels and Toyota.

Savills and B8 Real Estate advised on the deal.

By Liza Helps

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Bibby Distribution property manager moves to Savills https://www.logisticsmanager.com/bibby-distribution-property-manager-moves-to-savills/ https://www.logisticsmanager.com/bibby-distribution-property-manager-moves-to-savills/#respond Wed, 18 Sep 2019 14:17:20 +0000 https://www.logisticsmanager.com/?p=39189 Bibby Distribution property asset manager Chris Earle has joined property consultant Savills’ industrial and logistics occupier advisory team. At Bibby Distribution Earle was responsible for reshaping the firm’s property portfolio, fulfilling its real estate strategy by transacting approximately 1 million sq ft of warehousing space. He also reduced overhead costs through initiatives such as installing […]

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Bibby Distribution property asset manager Chris Earle has joined property consultant Savills’ industrial and logistics occupier advisory team.

At Bibby Distribution Earle was responsible for reshaping the firm’s property portfolio, fulfilling its real estate strategy by transacting approximately 1 million sq ft of warehousing space. He also reduced overhead costs through initiatives such as installing LED lighting across the group’s properties saving 66 per cent in energy costs and helping to reduce the firm’s carbon foot print in line with its ‘Road to Zero’ campaign

At Savills Earle will focus on third party logistics, production and manufacturing, supply chain and leisure occupiers and will be based out of the Leeds office as a director.

Savills has also appointed George Unwin, who was previously commercial and operations manager at Moma Foods. While at Moma Foods, Unwin generated cost savings by adopting a new 3PL and manufacturing strategy, while managing inventory, procurement and distribution.

As part of his new role at Savills, Unwin will concentrate on developing efficiencies between operations and real estate divisions, focusing primarily on FMCG, urban logistics and supply chain clients.

By Liza Helps

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Integrated Third Party Logistics doubles capacity https://www.logisticsmanager.com/integrated-third-party-logistics-doubles-capacity/ https://www.logisticsmanager.com/integrated-third-party-logistics-doubles-capacity/#respond Wed, 18 Sep 2019 14:09:01 +0000 https://www.logisticsmanager.com/?p=39186 Yorkshire logistics company, Integrated Third Party Logistics (ITPL) has doubled its space and agreed a new lease at Wakefield 41 Business Park, West Yorkshire. AEW UK Core Property Fund has funded the project, which sees ITPL expand its premises from 100,000 sq ft to 200,000 sq ft following a period of considerable growth. The FMCG […]

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Yorkshire logistics company, Integrated Third Party Logistics (ITPL) has doubled its space and agreed a new lease at Wakefield 41 Business Park, West Yorkshire.

AEW UK Core Property Fund has funded the project, which sees ITPL expand its premises from 100,000 sq ft to 200,000 sq ft following a period of considerable growth.

The FMCG warehousing and logistics operator and specialist 3PL provider has increased its capacity to store in excess of 20,000 pallets alongside its reworking operation, which consistently delivers over 2000 pallets per week. The new facility now handled nearly 200 vehicle movements per day, operating every hour, seven days per week.

Acting on behalf of AEW, property consultancy AWS, negotiated the surrender of the existing lease and secured a new agreement with ITPL for a ten-year period with a rent review in five years. GMI Construction was contracted to deliver the expansion and surveyors firm Malcolm Hollis was the project manager.

Dave Ellis, director at ITPL said, “As a result of this additional 100,000 sq ft we will be creating more than 30 new job roles taking our total workforce to over 70 people.”

By Liza Helps

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Toy giant takes last unit at Imperial Park, Coventry https://www.logisticsmanager.com/toy-giant-takes-last-unit-at-imperial-park-coventry/ https://www.logisticsmanager.com/toy-giant-takes-last-unit-at-imperial-park-coventry/#respond Wed, 18 Sep 2019 06:24:15 +0000 https://www.logisticsmanager.com/?p=39175 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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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 sq ft of two storey offices, 390 car parking spaces and a 55m yard.

M&G Real Estate acquired the 29-acre site in 2016 and has committed over £50 million to the development.

It consisted of three units measuring approximately 350,000 sq ft, 165,000 sq ft and 60,000 sq ft adjacent to Coventry Airport.

Menzies Distribution took the 165,000 sq ft unit in April this year while the smaller unit was let to to Innovare in 2017.

Joint letting agents on the scheme were Colliers and MWRE.

By Liza Helps

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St. Modwen starts final phase of warehouse development in Worcester https://www.logisticsmanager.com/st-modwen-starts-final-phase-of-warehouse-development-in-worcester/ https://www.logisticsmanager.com/st-modwen-starts-final-phase-of-warehouse-development-in-worcester/#respond Tue, 17 Sep 2019 13:56:48 +0000 https://www.logisticsmanager.com/?p=39169 Property developer St. Modwen has broken ground on three industrial and logistics units totalling 94,545 sq ft, at its Nunnery Park development in Worcester. Units of 48,000 sq ft, 19,010 sq ft and 27,525 sq ft will expand Nunnery Park with the largest warehouse boasting five dock level doors, a 10m haunch height and 40 […]

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Property developer St. Modwen has broken ground on three industrial and logistics units totalling 94,545 sq ft, at its Nunnery Park development in Worcester.

Units of 48,000 sq ft, 19,010 sq ft and 27,525 sq ft will expand Nunnery Park with the largest warehouse boasting five dock level doors, a 10m haunch height and 40 car parking spaces.

The new industrial units are expected to be ready for occupation in Spring 2020. UK Storage Company, Auto Support and Supra UK are already tenants on the site.

James Irwin-Singer, development manager at St. Modwen, said: “The popularity of Nunnery Park is down to sustained market demand for strategically located warehousing and industrial space in Worcestershire.

“Developing three further units at a site St. Modwen has continually invested in will allow us to meet the needs of potential occupiers and expand what is already a quality offering,” he said.

Letting agents are Fisher German and Avison Young.

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Moorfield adds to logistics property portfolio https://www.logisticsmanager.com/moorfield-adds-to-logistics-property-portfolio/ https://www.logisticsmanager.com/moorfield-adds-to-logistics-property-portfolio/#respond Tue, 17 Sep 2019 13:06:43 +0000 https://www.logisticsmanager.com/?p=39162 Private equity firm Moorfield has acquired two logistics sites: a 129,076 sq ft warehouse in Milton Keynes and a 111,000 sq ft distribution warehouse in Felixstowe. The Milton Keynes site is let off a reversionary rent to Bong UK, one of Europe’s largest producers of speciality packaging and envelopes, on a 12 year lease with […]

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Private equity firm Moorfield has acquired two logistics sites: a 129,076 sq ft warehouse in Milton Keynes and a 111,000 sq ft distribution warehouse in Felixstowe.

The Milton Keynes site is let off a reversionary rent to Bong UK, one of Europe’s largest producers of speciality packaging and envelopes, on a 12 year lease with 6.5 years remaining, and serves as its UK headquarters.

The Felixstowe site was purchased via sale and leaseback from Indo European Foods. A new 20 year lease has been agreed with the tenant, one of the UK’s largest suppliers of rice, who has occupied the site for 15 years.

Charles Ferguson-Davie, chief investment officer at Moorfield Group, said: “These acquisitions fit with our investment strategy of acquiring circa £5m-£15m, single-let logistics assets in undersupplied locations, which offer significant reversionary potential through a range of asset management initiatives.

“Our ambition is to build a portfolio in excess of 1 million sq ft of logistics assets by the end of 2020,” he added.

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Warehousing rents to continue to rise in London https://www.logisticsmanager.com/warehouse-rents-to-continue-to-rise-in-london-in-event-of-no-deal-brexit/ https://www.logisticsmanager.com/warehouse-rents-to-continue-to-rise-in-london-in-event-of-no-deal-brexit/#respond Fri, 13 Sep 2019 09:49:31 +0000 https://www.logisticsmanager.com/?p=39116 Warehouse space in London is set to see the highest amount of rent growth in the event of a no-deal Brexit, according to the latest analysis from Savills. The property advisor is suggesting rent rises of 1.1 per cent in 2020 because ‘London industrials have a vacancy rate of just 2.4 per cent’. Kevin Mofid, […]

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Warehouse space in London is set to see the highest amount of rent growth in the event of a no-deal Brexit, according to the latest analysis from Savills.

The property advisor is suggesting rent rises of 1.1 per cent in 2020 because ‘London industrials have a vacancy rate of just 2.4 per cent’.

Kevin Mofid, head of industrial research at Savills, said: “Even in the event of a no-deal downturn, London in particular continues to have historically low vacancy rates and occupier demand continues to rise. As online retail continues to grow the need to have more warehousing located near population centres will remain.”

According to research earlier this year from Savills, London is set to require up to 6.49 million sq ft of warehouse space per year, a 419 per cent increase on current levels, in order to keep up with the delivery of new homes in the capital.

The British Property Federation’s (BPF) ‘What Warehousing Where?’ report states that, at a national level, 69 sq ft of additional warehouse space will be needed per home in order to fulfil deliveries generated by the growth in online retail, which now accounts for as much as 21.4 per cent of all retail transactions in the UK.

Savills has calculated that in order to meet current demand for housing in the capital, London will need to build up to 94,000 homes per year. At present, based upon the five-year average, only around 1.25 million sq ft of industrial development is completed annually in London, suggesting a potential short fall of 5.24 million sq ft of warehouse space.

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Heathrow firm sees open storage rent rise 68 per cent https://www.logisticsmanager.com/heathrow-firm-sees-open-storage-rent-rise-68-per-cent/ https://www.logisticsmanager.com/heathrow-firm-sees-open-storage-rent-rise-68-per-cent/#respond Thu, 12 Sep 2019 10:22:53 +0000 https://www.logisticsmanager.com/?p=39106 Saints Transport, based at Parr’s Yard, Heathrow, has seen its rent for the 2.2 acre open storage site rise 68 per cent. The renegotiated deal sees the occupier take a new 15 year lease on the site at a headline rent of £500,000 a year equating to £5.05 per sq ft with a ten year […]

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Saints Transport, based at Parr’s Yard, Heathrow, has seen its rent for the 2.2 acre open storage site rise 68 per cent.

The renegotiated deal sees the occupier take a new 15 year lease on the site at a headline rent of £500,000 a year equating to £5.05 per sq ft with a ten year mutual break.

Parr’s Yard is located in the middle of the designated Compulsory Purchase area for the new Heathrow expansion and the deal has been negotiated to maximise the exit value for the landlord fund that owns it.

M7 Real Estate negotiated the deal.

Dan Roberts, Senior Asset Manager at M7, said: “Over the past few years Thames Valley and the Western Corridor has seen record highs in demand for commercial space, but all -time lows for supply.

“It has been increasingly difficult for occupiers to find suitable open storage, particularly in the South East, and with the continued demand for “last mile” access to our cities these sites are becoming increasingly valuable for the logistics operator.

“We were extremely happy to retain Saints at this site for the foreseeable future, which remains under threat from the proposed Heathrow expansion,” he added.

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Two schemes for M27 corridor https://www.logisticsmanager.com/two-schemes-for-m27-corridor/ https://www.logisticsmanager.com/two-schemes-for-m27-corridor/#respond Wed, 11 Sep 2019 15:06:31 +0000 https://www.logisticsmanager.com/?p=39099 Kingsbridge Estates is bringing forward two developments totalling 150,000 sq ft along the M27 corridor in Hampshire. It has bought a 4-acre site at Concorde Way Segensworth where it intends to build a ten unit scheme of units from 2,971 to 20,000 sq ft. Work is due to begin in September with completion in April […]

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Kingsbridge Estates is bringing forward two developments totalling 150,000 sq ft along the M27 corridor in Hampshire.

It has bought a 4-acre site at Concorde Way Segensworth where it intends to build a ten unit scheme of units from 2,971 to 20,000 sq ft. Work is due to begin in September with completion in April 2020.

A second scheme is to be developed at the former Buttericks factory in Havant, where planning has been submitted to develop 12 new units in sizes from 3,000-6,000 sq ft, with the ability for them to be combined as required. Completion is due summer 2020.

Letting agents are Vail Williams and CBRE.

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Urban shed for Liverpool https://www.logisticsmanager.com/urban-shed-for-liverpool/ https://www.logisticsmanager.com/urban-shed-for-liverpool/#respond Wed, 11 Sep 2019 15:04:19 +0000 https://www.logisticsmanager.com/?p=39097 Network Space is speculatively developing a 23,000 sq ft warehouse on a 1.75-acre brownfield site in Liverpool. The development being brought forward by Caddick Construction will be known as Central 23 and is aimed at urban logistics. Catherine Chilvers of Network Space Developments, said: “Provision of industrial warehouse space of this size and quality this […]

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Network Space is speculatively developing a 23,000 sq ft warehouse on a 1.75-acre brownfield site in Liverpool.

The development being brought forward by Caddick Construction will be known as Central 23 and is aimed at urban logistics.

Catherine Chilvers of Network Space Developments, said: “Provision of industrial warehouse space of this size and quality this close to the city centre is a rarity. Its position on the fringe of the city centre means the development is perfectly placed to appeal to a wide range of businesses who require access into the city and the wider conurbation.”

The project sits within the city’s Pumpfields regeneration area, which has ready access to the arterial route of Leeds Street. It has been supported with a grant from the Regional Growth Fund.

Construction work is expected to be complete in the spring of 2020. Letting agents are CBRE and DTRE.

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