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6

Commercial Property Register

December 2017 - Mark 2018

www.compropregister.com

Within the region Chorley has gained

a reputation as a progressive town that

aims to provide a range of business,

leisure and residential facilities for its

population.

It is also a good location for business

with easy access to Manchester, Preston

and other parts of the North West. A good

example of its attractions is that JLL has let

a 3,958 sq metres (42,608 sq ft) industrial

building on the Chorley North Business

Park for Eric Wright Group to Brysdales,

which supplies Railex Filing storage

products.

It will now move Railex, which it

acquired in 2016, from Southport. Indeed,

the expanding Brysdales also owns the

adjacent building to its new facility.

Robert Kos of JLL said: “Chorley North is

a well-established industrial scheme which

has proved popular because of its quality

accommodation and links to the rest of the

region.” Robert Pinkus were joint agents on

the deal.

Helical’s Grade II listed Churchgate House has been

fully let since being its reception was upgraded

to a new look “concierge style” reception with

informal meeting areas, coffee shops and event

space. Other buildings have done something

similar including 55 Spring Gardens and

Bridgewater House.

Dan Barnes of Savills said that increasingly

landlords are looking at how refurbishments can

make their Grade B+ buildings stand out, driving

innovation in office design. Tenants seem likely to

choose buildings which offer the type of space which

allows time away from desks and promotes informal

co-working.

Although the market is buoyant, it is important for

landlords to consider the impact a reception makes on

occupiers’ decisions regarding their moves.

With global giants such as Amazon seeking

office space in Manchester It is easy to see why

the city is so successful.

Amazon wants 6,503 sq metres (70,000 sq ft)

but it is not the only online retailer seeking large

offices because the Hut Group wants to build

13,935 sq metres (150,000 sq ft) at Manchester’s

Airport City. Hut is a company backed by former

Tesco Chief Executive Sir Terry Leahy and sells

online fashion, health and lifestyle products.

These space requirements fit into the new

pattern in Manchester in which the high tech

sector accounts for 40% of all city centre office

enquiries, saidColliers International. Thefirm’s Peter

Gallagher said: “The tech and digital sector

now has critical mass in Manchester with

more than 140,000 people employed,

making it the second city for the tech

industry after London.”

Chris Mulcahy of JLL highlights the strong

office letting market “with nearly 88,255 sq

metres (950,000 sq ft) let in the first nine months

of the year. We expect the total for the year to be

around 111,480 sq metres (1.2 million sq ft).”

Close to half that total came in the third

quarter, the highest third quarter since 2010,

which belies any thoughts of a slowdown. “We

also have five speculative schemes starting this

year as well substantial refurbishments,” Mulcahy

added. Interestingly, 72% of the lettings were 325

sq metres (3,500 sq ft).

NEWS

Check

point

CHORLEY

Rousing

RECEPTIONS

Dan Barnes

Bridgewater House

Online,

INFINITY AND BEYOND