Property deals highlight demand for space in Crewe
Property consultancy Legat Owen has highlighted the ongoing demand for industrial space in Crewe after it completed a trio of transactions in less than a month.
Manufacturer of motor vehicle parts, Trac Group, agri business, Dairy Gold and Freudenberg Filtration Systems have all signed up to take sought after commercial space.
Trac Group is expanding its operations by signing up to The Printing House, a 12,122 sq ft detached unit on the Marshfield Bank Industrial Estate.
The company has agreed a 10-year lease at a rent of around £65,000 per annum.
In a separate deal Dairy Gold has acquired the former warehouse belonging to Rodney Densem’s Wines, on Crewe Gates Industrial Estate, in a deal worth more than £1m.
The two high specification units, comprising 14,048 sq ft, are adjacent to Dairy Gold’s current manufacturing facility.
Rodney Densem’s Wines has relocated its warehouse business to Telford.
Finally, Freudenberg Filtration Systems has agreed a 12-year lease on the 19,601 sq ft 3a unit at Apollo Park, which is part of a speculative scheme by Total Developments.
Matt Pochin, director at Legat Owen, said: “These transactions demonstrates the continuing demand for SME units in Cheshire and more specifically Crewe.
“Enquiry levels are strong, which is leading to increased rents and capital values.
“This is good news in many ways, but it also presents us with significant challenges.
“The reality is there is a chronic shortage of high quality industrial stock in Crewe and throughout Cheshire.
“So, now more than ever, we need to engage with developers and planning authorities to encourage land release, react quickly to planning applications and encourage the development of more speculative schemes.”
The occupiers were all unrepresented.