The Coalfields Regeneration Trust Secures Land for New Trade Counter Scheme in Wigan

The Coalfields Regeneration Trust has secured planning to build a new trade counter development on Manchester Road just east of Wigan Town Centre. The scheme will provide 17,500 sq ft of high quality space over 5 units, with unit sizes from 3,000 sq ft upwards.

Shaun O’Brien, Property Investment & Development Director at Coldfields Regeneration Trust commented:

“We are pleased to announce that we have secured planning consent for the scheme and are close to appointing a contactor to commence construction with works due to start on site in early January 2015. We believe that the timing is right in the market for speculative development given that there has been very little new development over the past 6-7 years since the recession hit which has diminished supply in the market.

“The economy is now starting to improve which is generating occupier demand and this is especially true in the trade count market where occupiers are starting to open new sites across the UK especially linked to the construction industry. We are already talking to a number of trade counter operators on potential pre-lets for the scheme and will be hoping to announce confirmation of some pre-lets early in the New Year.”

Industrial property specialists, B8 Real Estate, have been appointed to market the scheme.

The Bear - B8RE

B8 Real Estate Disposes of Widnes Distribution Facility to Express Gifts

Industrial property specialists, B8 Real Estate, have recently disposed of The Bear, distribution facility in Widnes to Express Gifts Limited one of the largest direct mail order businesses in the UK.

The Bear is a second-hand distribution facility of 105,000 sq ft which is fully fitted out including racking and was previously let to outdoor clothing retailer, Gelent, who were bought out of administration by Sports Direct Group and their distribution operations relocation to the existing facility at Wigan leaving the property vacant.

Express Gifts who are part of the Findel Group headquartered in a 500,000 sq ft warehouse HQ facility in Manchester took the building on a new 10 year lease as part of a property consolidation exercise from a number of different other sites in the North West.

Jon Thorne who acted for the landlord, Threadneedle, commented:

“Although this property is an older second-hand building interest shown in it and the fact that it was let within 6 months of being vacated is another encouraging sign of occupier demand in the North West logistics market.

“The Express Gifts requirement started specifically in the Manchester area but was widened to a North West search area given the lack of any suitable options around Manchester.

“This again shows how occupiers are prepared to widen their search areas when they have warehouse requirements given the lack of suitable buildings that are available to them in the market.”

Davies Harrison acted for the tenant, Express Gifts.

Castlehill- B8RE

B8 Real Estate Advise on 150,000 sq ft Castlehill Industrial Park

Cornerstone Real Estate Advisors have completed the purchase of the prime 150,000 sq ft Castlehill Industrial Park, Bredbury for £9,235,000 from BP Pension Fund.

The property comprises an enclosed multi-let Industrial Park located just off junction 25 of the M60 motorway on the successful Bredbury Industrial Estate.

Simon Wood of B8 Real Estate who acted on behalf of Cornerstone commented:

“This was a rare opportunity to buy an enclosed multi-let industrial estate within the South Manchester area.

“B8 Real Estate have been fully retained on the marketing of the vacant units and expect extremely good interest on the back of the quality of the property and limited supply within the area.”

B8 Real Estate advised Cornerstone Real Estate Advisors, Christopher Dee advised BP Pension Fund.

For more information contact

Simon Wood

B8 Real Estate

01925 320520