A new-build trade unit developed by Network Space Investments in the heart of Warrington has been let at a record rent.
The 5,100 sq ft unit on Gateway 49 Trade Park was let within a month of practical completion at a headline rental of £15 per sq ft, a record rent for the estate and wider Warrington market. B8 Real Estate acted as sole letting agent for estate owner Network Space Investments.
The occupier Würth UK Ltd, a leading supplier of trade assembly products and fasteners part of the German-based Würth Group, signed a 10-year lease on the property.
Situated on Kerfoot Street just off the main Winwick Road A49 dual carriageway into Warrington, the unit was built to shell specification with 6.5m eaves, glazed frontage and secure loading / parking area adjacent to the entrance of the trade park.
The build team included Bansco Limited as the main contractor, architect Frank Shaw Associates Limited and RS UK Associates Ltd as project manager.
The estate is now fully occupied, and a planning application has just been submitted to Warrington Council for a similar new-build unit on the last remaining plot on the estate, which is expected to be built in 2023.
Anthony Mellor of B8 Real Estate’s agency team said: “With the industrial market entering more uncertain times, this record letting demonstrates demand is still there for good quality buildings in prime locations such as Warrington. To secure a tenant so quickly after practical completion is testament to the positive fundamentals in the sector.”
Tom Dawson of Network Space Investments added “Gateway 49 has been developed by our business over a 20-year period and has always been a remarkable success, with strong occupier demand and market leading rental levels. We are delighted to welcome Würth, they will be an excellent addition to our already very strong tenant line up.”