Property round-up: Higcross lets 1m sq ft to B&M and Jaguar; and more
ASSET management firm Highcross has let more than 1m sq ft of distribution/warehouse space at sites in Ellesmere Port, Merseyside and Crewe.
The lettings, which have all taken place within the last month, include 456,350 sq ft to B&M Retail at Deacon Park in Knowsley, on a three-year lease. The letting is the biggest deal for distribution space to be agreed in the region this year.
B&M, which has 280 stores, will use the space to provide additional capacity to its 600,000 sq ft warehouse and HQ at The Vault in Speke.
The firm has also let the 405,365 sq ft Phoenix facility at Ellesmere Port, which has been taken by Jaguar Land Rover on a 10-year lease.
The facility will be managed by Jaguar Land Rover’s logistics provider, DHL, and is set to create around 300 jobs in the area.
The Phoenix building is set on a secure 21-acre site, next to Junctions 6 & 7 of the M53. It was purpose-built as an automotive logistics facility and the substantial element of fit-out and finish already in place was an important factor in Jaguar Land Rover’s decision to locate at the site.
The letting in Crewe is a a 213,291 sq ft unit on the Crewe Gates Industrial Estate. It has been taken on a ten-year lease by Davis Haulage.
Highcross director Richard Pellatt said: “This has been a record month, with our three largest warehouse/distribution units in the North West now all fully let within a matter of weeks of each other.
“The lettings to B&M Retail and Jaguar Land Rover are by far the largest deals in the North West this year, and with availability of major distribution/industrial units now much reduced in the region, we expect to see further occupational interest in tenant-led design and build opportunities.”
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GVA Dixon Webb has completed a number of new lettings which has seen Huyton’s Sherborne Square shopping precinct achieve full occupancy.
The precinct from voids in recent years but GVA Dixon Webb and London-based Cedarwood completed an asset management strategy which included a more “realistic” approach and more flexible lease terms.
This has let to a raft of new lettings to occupiers including Kids Company, Maria Fogg Family Law, Huyton Domestic Appliances, Knowsley Furniture and Beds, G&C Carpets, Nikki Dress Design and Lyon’s Pets.
Richard Peters from GVA Dixon Webb said: “Shop tenants are facing some of the bleakest times on record, with lower disposable income on the part of prospective purchasers, higher energy prices and a fight with electronic-based retailers.
“The reason that this campaign has been so successful is the client has adopted a realistic approach, allowing us to offer flexible terms and affordable rentals at a time when shop tenants desperately need it.”
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SIX police stations are amongst lots being offered at a Manchester property auction tomorrow (July 10).
Pugh & Co is looking to sell four police stations on behalf of the Cumbria Constabulary as well as a station on behalf of Lancashire Police and another based in Wigan.
The Cumbrian stations up for sale at Rydal Road in Ambleside (guide price: £100,000), Silver St in Kirkby Stephen (£160,000-£180,000), Main St in Cockermouth (£200,000-plus) and High St in Cleator Moor (£125,000).
The Lancashire stations being offered are at Bank st in Bacup (£60,000) and the former Ince Police Station near Wigan (£150,000).
Commercial director and valuer Stephen Swainson said: “We have 65 lots up for sale offering a range of retail, office, warehouse and land for development opportunities.
“The police stations provide opportunities which have not been offered to the market previously for developers or investors and we hope these will generate real interest on the auction day.”
The auction is being held at Manchester United Football Club.
