Host of property deals signals returning confidence

FOUR industrial property deals have been completed in South Yorkshire, which experts say is a sign that the market is continuing to flourish.

CPP’s industrial property and logistics team has completed transactions on two units at Newhall Business Park in Sheffield, with a combined total of 35,000 sq ft, and two smaller units at Meadowhall Industrial Estate, close to Meadowhall Retail Park.

Ed Norris, a partner with CPP, said: “These four deals are tremendous news for the Sheffield region and for the market as a whole. The industrial property market in Sheffield and South Yorkshire is flourishing and the fact the Newhall and Meadowhall estates are now fully let graphically underlines this strong occupier demand.”

At Newhall Business Park, owned by Strawson Property, Goole-based development and investment company Price Express Transport has taken 15,000 sq ft while Stemcor Steels has signed for 17,000 sq ft both in excess of £4 per sq ft.

Mr Norris said: “These deals also illustrate a return to strong rents for landlords, which is a telling sign that confidence has returned to the market. That, in turn, could lead to a return to serious speculative development in the region.”

Meadowhall Industrial Estate, situated off Brightside Lane, is a small development of sub-3,000 sq ft units.

“Our two deals at Meadowhall mean that the estate is now fully let, which is a ringing endorsement of the location and an indication that there is positive occupier demand for smaller units. The outlook is bright for landlords and occupiers alike,” added Mr Norris.