B8RE Press Release

Kuehne & Nagel Take Edison Point

Pin Property are delighted to announce the letting of Edison Point, a 108,000 sq ft distribution facility on Astmoor Industrial Estate, Runcorn to K&N.

The former Superfos manufacturing distribution facility was purchased in early 2014 and undertook a comprehensive refurbishment to provide a modern warehousing facility with extended yard, new dock level loading, re-clad elevations, new roof and refurbished offices.

K&N agreed to take the property on signed practical completion of the refurbishment works on a new 10 year lease and has been taken to consolidate K&N drinks distribution contract within the North West.

Joint agent, Howard George of B8 Real Estate, who acted jointly with Altus Edwin Hill for Pin said:

“Edison Point was a strategic buy for Pin and they have been able to provide much needed, quality distribution accommodation in an area where supply is extremely limited. K&N’sdecision to locate here was due to superb communications into the opening of the new Mersey Gateway in 2017.

“We are seeing considerable investment in the region on the back of major capital projects such as the Mersey Gateway and Liverpool 2 Port development.”

Imran Younus, Commercial & Marketing Director at Pin said:

“We will continue to acquire strategic properties in the Liverpool/Manchester belt where we have been successful over the last few years. We have been successful in letting 750,000 sq ft of properties in Halton and now have a major holding on the Astmoor and Manor Park industrial estates in Runcorn.”

Leader of Halton Borough Council, Cllr Rob Polhill, said:

“This is a key site and it is great news that Pin has achieved another letting in Halton where they have been investing for some time. I’m sure K&N who have taken the property will find it is an excellent location for them, especially with the building of the new Mersey Gateway.”

For further information contact:

Howard George

B8 Real Estate

01925 320 520

howard@b8re.com

M&G Backs Trafford Park Spec Shed

Marshall CDP has agreed to fund its Union Square development in Trafford Park. M&G Real Estate will forward fund the speculative development of a 175,000 sq ft warehouse with Marshall CDP acting as the development manager.

Joiner Cummings acted for M&G Real Estate and Marshall CDP was represented by B8 Real Estate and Davies Harrison.

Fiona Rowley, Fund Manager at M&G, said:

“We are seeing a real lack of supply in prime logistics assets in core locations throughout the North West. In Trafford Park, this is particularly true for units of 150,000 – 200,000 sq ft as a result of restricted land supply. However, tenant demand continues to strengthen and consequently the potential for rental growth from is anticipated to grow too.

“Investor appetite remains strong for logistics assets. This is set to continue throughout 2015 as the industry plays an integral role in supporting the unprecedented growth currently being experienced be e-commerce.

“It shows no sign of let-up and so it is expected that investors will continue to move up the risk curve, ensuring prime logistics assets in core locations continue to be a priority for savvy investor.”

Howard George of B8 Real Estate said:

“This deal represents the strength of the North West distribution market and the lack of supply in the key strategic locations. On current take up there is only 12 months supply of distribution property. We are looking to see a number of speculative big sheds over the next 24 months.”

For further information contact:

Howard George

B8 Real Estate

01925 320 520

howard@b8re.com