Landlords have agreed a new voluntary Code of Practice for commercial leases, which will considerably benefit tenants in the future, according to Charles Woollam, a partner at property consultancy Donaldsons,
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They may not be mega sheds topping 750,000 sq ft but big sheds are still popular with developers in the North West, with some 15 schemes providing sheds over 300,000 sq ft. In fact so strong is the market that there is a frenzied trade among developers an
Arlington Securities has paid £14m for a vacant shed in Burton-on-Trent as the appetite for investing in distribution property continues unabated.
Henry Boot Developments has lodged detailed plans for 320,000 sq ft of warehousing at its 18-acre Meir Park scheme in Stoke-on-Trent.
Craigard Investments is taking advantage of a lack of big shed space along the M3 Corridor and is speculatively refurbishing a 100,000 sq ft plus warehouse in Eastleigh, Southampton, which it will call Avalon.
Wolseley has opened a 350,000 sq ft distribution centre in Leamington Spa comprising two buildings, linked by an enclosed bridge.
Developer Gazeley has struck a joint venture deal with UK Coal to develop a site in Leicestershire into a £60m distribution park.
Handleman UK has taken Big Sam, Arlington and Barwood’s 274,700 sq ft cross-docked distribution centre at Wingates Industrial Estate in Bolton on a 10-year lease at an annual rent of £1.17 million a year (£4.25 per sq ft).
Despite a long time in the planning and a negative lobby from residential neighbours planning permission has been granted for a 205,000 sq ft warehouse at Ashroyd Business Park in South Yorkshire.
There is a growing trend among developers to provide cross-docked facilities to the market not just on a design and build basis but speculatively.
