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

simon@b8re.com

B8 Real Estate Disposes of Trafford Park Warehouse

B8 Real Estate have sold a 55,000 sq ft self-contained warehouse on Mellors Road, Trafford Park to Manchester based dairy operator, Creamline Dairies. 

The facility was previously used by Bergen Transport but has been purchased by Creamline for a price believed to be close to the £1.5m asking price as part of Creamline Dairies expansion plans in the area.

Jon Thorne of B8 Real Estate acted for the vendor, said:

“In bringing this site to the market we offered a rare opportunity for an owner occupier to purchase a substantial industrial facility in the Trafford Park area and we therefore attracted a lot of interest from both existing Trafford Park occupiers and from companies out of the area looking to establish an industrial base in Manchester.

“The strong interest we had shows that even for older second-hand industrial properties there is strong demand which is a sign of occupiers having more confidence as we are coming out of recession and also the lack of supply of alternative buildings available in the market.”

Manchester agent, Ridley Thaw acted for Creamline Dairies.

Irlam Trafford Park - B8RE

B8 Real Estate Instructed on Modern Industrial Units at Irlam and Trafford Park

Industrial property specialists, B8 Real Estate, have been instructed on two modern industrial estates at Irlam and Trafford Park by UK leading industrial warehouse developer and property company, Chancerygate.

At Irlam Business Centre there are 9 modern units available ranging in size from 2,000 – 4,000 sq ft to lease or purchase. At Trafford Park there is a single unit available of 2,500 sq ft on Ordinal Street within the Trafford Park Business Village.

Jon Thorne of B8 Real Estate commented:

“Occupier demand for smaller units has started to improve as the economy recovers and we are seeing more starter companies and smaller businesses having the means and confidence to grow and expand into larger units or take their first step in renting a unit.

“Specifically on the Irlam Estate we currently have five of the available units ‘under offer’ with interest in the remaining four. This strong demand and the lack of new or modern units available in the market demonstrate the forthcoming need for new development schemes in the region.”

Knight Frank are working as joint agents with B8 Real Estate on both the instructions.

Moorgate Point - B8RE

Guernsey-Based Jolivet Group Disposes of Large Knowsley Warehouse

Jolivet, the landlord of the Moorgate Point industrial facility in Knowsley have completed two large warehouse lettings.

The deal for previous tenant, Kammac, will re-occupy the building and relocate their HQ to the site taking 143,000 sq ft including 5,000 sq ft of offices whilst St Helens based third party logistics operator, K&A Logistics have taken 200,000 sq ft to undertake a storage contract for Dunhelm Mill.

Simon Storer from Jolivet Properties commented:

“We were pleased to welcome back Kammac as a tenant to the site as well as a new occupier in K&A Logistics. As a keen property investor in the North West industrial market we were initially nervous after being faced with 340,000 sq ft void on the site in May 2014 but the fact that our agents, B8 Real Estate and Littler Associates, have been able to re-let the space within a 5 month period it shows the strength of the occupier market.

“We were pleased to achieve rents close to £2.50 per sq ft on second-hand space that is racked and fully fitted out for occupiers to utilise immediately”.

Jolivet are believed to be actively looking for more industrial opportunities in the region to add to their portfolio.

B8 Real Estate and Littler Associates acted for the landlord.

B8 Real Estate Sells Former Manufacturing Facility in Aintree

Industrial property specialists, B8 Real Estate, have sold the former Mayr Melnhof Packaging manufacturing facility on Dunnings Bridge Road in Aintree to cooking oil manufacturer KTC Edibles. 

The property comprises 165,000 sq ft industrial facility on 9 acres situated next to the Switch Retail Leisure Park, behind Allied Bakeries and close to the switch island M57/M58 interchange.

The site was closed by Mayr Melnhof Packaging in late 2012 and was purchased earlier this year by Midlands based KTC Edibles who are going to use the building as part of their expansion operations from their existing Liverpool base on the Port of Liverpool.

The sale price was believed to be close to the £1.5m asking price and it is hoped that with KTC Edibles taking over the site for operational purposes, there will be a number of new jobs created in the area.

Jon Thorne of B8 Real Estate, acting for Mayr Melnhof on the disposal, said:

“Whilst the main focus of the industrial property market in north Liverpool has been on logistics with L2 and the growth at the Port of Liverpool, it is also nice to see that UK companies are also investing in the region for manufacturing uses. It is a good sign for the local economy and property market that companies are looking to expand their operations and invest in Merseyside area as it is still seen as an attractive place to do business in the industrial sector”.

Birmingham surveyor White Rose acted for KTC Edibles.

Stakehill Industrial Estate - B8RE

Continued Confidence in the Regions

A Private Investor Fund, Investment Managed by JLL have acquired a distribution unit on Stakehill Industrial Estate in North Manchester from private investor, Ventnor. 

The building comprises a detached high quality distribution unit of 103,000 sq ft and is let to Parcelpoint Limited (guarantee by Shop Direct Holdings Limited) with a lease expiry in April 2022. The purchaser paid £5,730,000 for the investment reflecting a net initial yield of 6.70%, with a reversion of 7.2%, following a fixed uplift in 2017.

Simon Wood of B8 Real Estate, who acted on behalf of Ventnor on the investment sale, said:

“The sale generated a huge amount of interest which reinforces the confidence in the regions for viable long term investments in the industrial sector”.

The purchaser were represented by the Manchester office of JLL.

Large Speculative Industrial Development in the North Set to Commence

New Capital Knowsley Limited are pleased to confirm the largest speculative industrial development for many years in the North of England is due to commence on site next month. 

Known as Venus 110, it is being developed by New Capital (Knowsley) Limited at the junction of Boundary Road and Hornhouse Lane at the entrance of Knowsley Industrial Park.

The site will provide a detached highbay distribution facility of 110,000 sq ft on a site of 6.5 acres. Built to the highest specification it will have 13m to the underside of haunch, extensive dock and level access loading, 10,000 sq ft of two storey offices and will be constructed to BREEAM excellence.

Howard George of B8 Real Estate, sole agents acting on the letting said:

“The North West has a severe shortage of new distribution facilities. Take-up in this sector over the last 3 years has been at record levels with now not a single building of over 100,000 sq ft in the prime North West core from Liverpool to Manchester. The completion of this building will provide much needed accommodation for companies not having time to wait for a ‘Design & Build’ option.”

Venus 110, which received just over £1m worth of European Regional Development Fund support, is due for completion in April 2015 – once complete the development is anticipated to create 100 jobs.

£12M TRANSACTIONS SUCCESSFULLY COMPLETED

Holmes Chapel Business & Trade Park

• 70,000 sq ft Multi let trade Park

• Sold for £3,100,000

• Sold to Infrared Capital

• Christopher Dee acted for Infrared, B8 Real Estate LLP acted for Chestergate

 

Europa Boulevard, Warrington

• Detached warehouse and office HQ building

• Sold for £2,700,000 (8.6% net initial)

• Sold to IOM based private investor

• Harvey Richards and West represented Greenstone Sovereign and B8 Real Estate LLP represented us.

 

Millfield Lane, Haydock, St Helens

• 30,000 sq ft production and warehouse facility

• Acquired for £1,100,000

• 21,000 sq ft let to Frodsham Sign and Display, with the remaining 9,000 sq. ft. being marketed through B8RE.

• Eddisons represented Leonard Curtis and B8Real Estate LLP represented us.

 

Normanton Industrial Estate, Leeds

• 30,000 sq ft distribution facility

• Acquired for £1,100,000

• Let to Ford Retail Ltd at a rent of £130,000 sq ft

• The Vendor was represented by GVA Grimley.

 

Unit 5 Carnaby Industrial Estate, Bridlington

• 10,000 sq ft warehouse facility

• Sold for £350,000

• Let to Booker at £35,000 per annum.

• Garness Jones represented Chestergate.

 

Lister Road, Astmoor Industrial Estate, Runcorn

• 120,000 sq ft high bay warehouse facility

• Acquired for £3.75 million from St James’ Place.

• Let to DHL at a rent of £410,000 pa

• CBRE represented Chestergate.

 

Land at Astmoor Industrial Estate, Runcorn

• 2.7 acres development land in 2 plots

• Plots available freehold or on lease

• Acquired for £200,000 from First Investments Ltd

• Part let to AAK UK Ltd

 

Land at Reginald Road, St Helens

• 1.5 acre development site

• Acquired by Cheshire Mouldings Ltd for £115,000