Trio of firms appointed on The Depot
Independent property consultancy BC Real Estate – together with CBRE and Davies Harrison – has been appointed by Pin Properties as the joint letting agents on a 170,443sq ft warehouse in Ashton-Under-Lyne, Greater Manchester.
The building, known as The Depot, is currently undergoing an extensive refurbishment that is due to be completed by Spring.
This latest instruction follows hot on the heels of Vengrove appointing BC Real Estate on Space 170 – a 170,000sq ft warehouse on the fringe of Liverpool city centre Liverpool and means the property consultancy is now dealing with more than one million sq ft of prime instructions throughout the North West, less than six months after launching.
Gary Chapman, partner at BC Real Estate, said: “The North West occupational market has remained buoyant despite the results of the EU Referendum and US Presidential Election, thanks to the continued growth of online sales, which is driving strong occupier demand.
“There is also a good local demand from both distribution and manufacturing sectors, particularly in North and East Manchester close to the M62.
“The pipeline for speculative development has halted during the 2nd half of 2016, however, the North West saw the highest growth in prime rents during 2016, up by 13.6%.
“This should see the rents for good quality secondary space such as The Depot and Space 170 rise a result of the continued demand and lack of supply.”
John Barton, partner at BC Real Estate, added: “This is a real milestone for our company and we are delighted to have reached it only six months in.
“We are proud to act on a broad spread of instructions for a range of clients from property companies such as Consolidated Properties and Patrick Properties, funds such as Royal London, Vengrove and Standard Life through to occupiers such as Howard Tenens and Missguided.
“Whilst we can’t mention every client, each one is vitally important to us and has our complete focus in repaying the faith and loyalty they have shown us.”
