Property firm hits £80m milestone at key motorway site
Property consultancy Commercial Property Partners (CPP) has sealed more than £80m worth of investment deals within the J28 area of the M1 in 12 months, which it says signals the strong demand for the location.
CPP said latent occupier demand for logistics and industrial warehouses in the area has seen it complete a number of property deals including the £24m property deal in which Oxenwood Real Estate purchased two industrial properties totalling over 500,000 sq ft.
Further investment success in the area includes the £16.1m deal at Gateway 28 which saw CPP secure the acquisition of a 265,000 sq ft warehouse let to Eurocell Profiles on behalf of MPF.
In addition to the investment activity, CPP has assisted clients Richardsons and Thorngrove Land to actively asset manage the former Englender Business & Distribution Centre in South Normanton to pave the way for a speculative development known as Nickel28. The 261,000 sq ft distribution warehouse, within one mile of junction 28 of the M1, is being well received by the market ahead of its completion date in September 2018, CPP said.
Sean Bremner, partner at CPP’s Midland’s office, said: “Junction 28 of the M1 remains a major centre for logistics and manufacturing, and is within easy reach of key transport infrastructure that includes numerous major cities within two hours’ drive and one of the UK’s busiest cargo airport, East Midlands, four junctions south. Consistently strong demand for this location reinforces a key fundamental consideration for successful investment.”