Nippon Express (UK) has secured a 15-year lease on a 124,800 sq ft warehouse in Hayes close to Heathrow.
Heathrow 360 owned by British Steel Pension Fund is under construction, will provide 101,040 sq ft of warehousing space, 19,920 sq ft of ground and first floor office accommodation and a 3,840 sq ft two storey mess room. The facility is being built on a site area of 5.68 acres. Completion is due early March 2007. An initial rent of £10.35 per sq ft has been agreed.
As one of the world’s busiest airports, Heathrow is a dominant influence on the industrial property market in West London, creating a micro-climate of supply and demand.
New research carried out by Knight Frank and Savills for ProLogis showed that enquiry levels in the Heathrow area are increasing and that most potential occupiers are looking for units in the 50,000 sq ft – 100,000 sq ft size range. Acting on this information, ProLogis has started speculative construction work on three industrial / distribution units at ProLogis Park Heathrow, its 35-acre site on Stockley Road in Hayes.
The units provide 67,794 sq ft, 73,996 sq ft and 94,788 sq ft of secure, high quality space and they are already attracting potential occupiers. Paul Weston of ProLogis said: “The strength of the market around Heathrow has intensified rental growth, so the trend among occupiers is to take units of less than 100,000 sq ft to service the airport while locating national and regional distribution centres elsewhere.”
The government’s latest changes to the planning system in England came into effect on 10 August, affecting the format of outline planning applications and the new requirement to submit design and access statements.
According to DTZ Debenham Tie Leung’s ‘Planning for Change – Grand Designs’ bulletin these changes will affect almost all planning applications for new developments and there will be a reduction in flexibility. There will be a shorter lifespan to planning permissions reducing from five to three years, and restrictions on opportunities to renew planning permissions prior to expiry.
More detailed information must now be submitted to demonstrate that the proposals have been properly considered in the light of planning policy and the site’s particular opportunities and constraints.
The government has now set out the minimum scope and level of information to be submitted on use, quantity, layout, scale and access.
European Golf Brands, manufacturers of “Powakaddy” electric golf trolleys, advised by Atisreal, has acquired a 45,000 sq ft assembly and distribution facility at Eurolink Business Park, Sittingbourne.
The building, which is currently under construction, is a joint venture between European Golf Brands and Graftongate Developments, and is being funded by Standard Life. Upon completion of the building, European Golf Brands will enter into a new lease and will use the site as its UK headquarters.
European Golf Brands, which has recently launched three new products to complement its range of powered golf trolleys and accessories, is already based in Sittingbourne and views the area as an ideal base for growth.
Robin Catlin of Atisreal said: “The Sittingbourne area is benefiting from expansion through the Thames Gateway into North Kent. This location is attractive to distribution users owing to the planned Sittingbourne Northern Relief Road, which will improve local transport links.”