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Region sees lift in the ‘big shed’ market
SOUTH Yorkshire’s industrial property market showed signs of improvement over the last quarter, on the back of major deals involving some of the biggest names in retailing.
According to Knight Frank, the industrial ‘big shed’ market has seen take-up of more than two million sq ft thanks to an increase in the number of large deals, including a number in Barnsley and Doncaster.
Rebecca Schofield, a partner at the Sheffield office of Knight Frank, said yesterday: “The wider Yorkshire and Humber area still has the largest amount of new build product available, with 33 per cent of the UK’s stock levels, when compared with other regional offices.
“Over recent years, and particularly following the economic downturn, we have seen a flight to prime which resulted in take-up in traditional logistic locations around the golden triangle and M62.
“Rents in South Yorkshire are more competitive than other locations and the region also boasts strong transport links and good labour, so we are hopeful tenants are taking note – and beginning to take advantage of these benefits.”
The recent letting of Nimbus Park to The Range is the biggest warehouse letting in Yorkshire so far this year, Ms Schofield said.
The home and garden wares retailer has taken 750,431 sq ft on a 20-year lease and will use the facility, in Thorne, near Doncaster, as one of its national distribution centres.
Supermarket chain Aldi has also announced the development of an 856,000 sq ft site at Goldthorpe Industrial Estate in the Dearne Valley.
The regional distribution centre will supply stores from Scarborough to Boston and from the western side of the Peak District to the east coast.
Building work is expected to start on site early next year.
Window manufacturer Elbee has moved to the Barnsley-based Ashroyd Business Park.
Retailer Next has taken a 260,000 sq ft distribution centre at Redhouse Interchange in Doncas- ter.
Ms Schofield said: “These are positive signs for the warehouse and distribution market.
“To have witnessed such a significant increase in take-up in the last three months is very encouraging news for South Yorkshire.”
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Saturday 18 May 2013
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