B8RE advised Harworth on the master planning and delivery of a new build speculative development comprising two high quality self-contained industrial units located within the successful Logistics North scheme adjacent to junction 4 of the M61.
R-evolution comprised a speculative new build multi-let development consisting of two self-contained units ranging from 24,750 sq ft to 27,500 sq ft built to a high specification to include 7 metre clearance height, 10% first floor integral offices and dedicated secure yards.
B8 Real Estate undertook an extensive review into supply and demand dynamics and identified strong demand and a supply gap for new build/Grade A units within the 20,000 – 30,000 sq ft size brackets. We were then involved in the design process recommending the development of two high quality units within this size range.
We implemented a full marketing campaign before and during the construction phase and were able to identify suitable occupiers and secure lettings on each unit within a week of practical competition on minimum 10 year lease term achieving new headline rents for the area of £7.00 per sq ft, justifying our advice to build units of this size.
The success of the R-evolution Scheme encouraged Harworth together with funding partners KFIM to embark on their joint venture of Phase II Multiply, a high quality prime multi-let/SME scheme of 5 self-contained units ranging from 20,000 sq ft to 30,000 each with dedicated yards and a minimum 7m eaves height.
The scheme is currently under construction with practical completion set for October 2018 with a pre-lets already secured at record rental levels highlighting the level of demand for prime multi-let/sme units in the 20,000 – 30,000 sq ft size range.
The above illustrates B8 Real Estate’s ability to provide proactive advice to clients throughout the development process ensuring a product which is able to attract strong tenants at record rental levels with a minimal void period