The credit crunch has meant that the development pipeline for 2009 is virtually zero with static rents, rising construction costs, softening investment yields and a dearth of development funding all conspiring against developers.
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Much has changed since the days when logistics was a matter of loading and driving a truck. Technology advancement has spurred the sector on to the point where it now – along with supply chain management – has become the backbone that supports today’s glo
I was recently fortunate enough to be invited to Downing Street for a reception on apprenticeships. It was an event attended by the prime minister and a number of other ministers (what is the collective noun for government ministers?).
According to Jones Lang LaSalle’s latest Western Corridor Industrial/Warehouse Market Report there was a 2 per cent rise in rents seen in Park Royal and Greenford last year.
City Link has pre-let a new 38,000 sq ft distribution hub at Welsh Industrial Partnership’s £7.5m Olympus development on the Central Business Park on Swansea Vale on a 15-year lease.
Falcon Steel has acquired 200,966 sq ft industrial premises on the Westfield Industrial Park at Waunarlwydd in Swansea on a new 20-year lease.
Developers Chase Commercial and Hortons’ Developments have secured consent for a new 71,818 sq ft industrial warehouse on a four-acre site known as “Ashchurch 9” located next to the Ashchurch Parkway Railway station in Gloucester.
Warehouses in and around London Heathrow are still the most expensive in the world according to property consultant Cushman & Wakefield with rents averaging 185.03 Euros per sq m.
Bed maker and retailer Sleepmasters has secured Newbridge Capital’s 20,000 sq ft warehouse at Pen Y Fan Way, Oakdale in Caerphilly at a rent of £67,000 a year.
Shepherd Developments, in conjunction with the Abtech Group, has completed the development of Access 63 near Selby.
