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One development that epitomises

the strength of the regional

market is Sterling Capitol’s

Capitol Park at Leeds where

three major occupiers have

signed new leases.

These are NHS Shared Business

Services, Hermes and DePuy

International who, between them,

took a total of 13,006 sq.metres

(140,000

sq.ft

.) in deals brokered

by Knight Frank.

Richard Clark of Knight Frank said:

“Capitol ticks all the boxes. It is next

to the M62 and within five minutes

of the M1, so it has access to

Yorkshire’s superb motorway network”.

In the city centre, it is significant

that a global media agency like

Dentsu Aegis Network has taken

1,255 sq.metres (13,509

sq.ft.

) in

6EP, which is the largest refurbished

office property in Leeds at

3,901 sq.metres (42,000

sq.ft.

).

This is a joint venture of Bridges

Ventures and Evanacre.

Alex Hailey of letting agent CBRE

said: “The redevelopment of 6EP, a

strategically located building in the

heart of the business district, is an

important addition to the Leeds

market at an opportune time”.

In another deal, CBRE has let

further space at 8 Park Row to the

global digital media company,

Perform, giving it a total of

1,486 sq.metres (16,000

sq.ft.

) in

the building.

It is heartening to see that

manufacturing features in new

developments in the region,

such as the scheme at the

165 acre Temple Green in the

Aire Valley by Evans Property

Group and Harworth Estates.

After a £7 million investment in

infrastructure, roads are open in what

is claimed to be the largest advanced

manufacturing and logistics site

in the north. It will have

241,540 sq.metres (2.6 million

sq.ft.

)

of space and is in the Leeds City

Region Enterprise Zone.

The marketing of the park has

been stepped up this year with the

appointment of CBRE and Gent Visick

to join Dove Haigh Phillips as agents.

Unfortunately, the industrial

picture is not totally rosy because

Brexit is playing a part by bringing

uncertainty, as illustrated by Burberry

postponing the construction of a new

£50 million trenchcoat factory at the

South Bank Leeds.

Doncaster has a distinct advantage

in the national distribution

network through its location in

south Yorkshire with easy access

to the motorway system and the

main urban areas of the north

and Midlands.

So, it should be no surprise

that Amazon should go for a

102,190 sq.metres (1.1 million

sq.ft

.)

facility at Verdion’s iPort. This is a

major scheme on a 335 acre site

with the potential for a further

557,400 sq.metres (6 million

sq.ft

.).

This is just another peg in the

board of Amazon’s march across the

UK to give it a dominant position in

e-retailing and it now has 12 UK

hubs. Even more startling is that

Amazon accounted for 26% of the

UK industrial lettings in the final

quarter of last year.

The success of Doncaster extends

to SMEs where Bullrush Business

Park, developed by Carnell

Management Services, has recently

attracted four new tenants, the

latest being Fabb Projects who took

a 1,115 sq.metres (12,000

sq.ft

.)

unit, leaving just two units empty.

Rebecca Schofield of Knight Frank,

joint letting agent with PPH

Commercial, said: “We now have a

vibrant business park populated by

small and medium sized businesses”.

Elsewhere in south Yorkshire,

Helical Bar is to expand the

Cortonwood Shopping Park at

Rotherham with an 11,148 sq.metres

(120,000

sq.ft

.) extension to be

built by Finnegan. Clearly it is an

attractive location because Helical

Bar has pre lets on 10 of the

11 units, all of them taken by

retailers that are new to the area.

Adam Russell of Helical Bar said:

“By attracting new retailers to the

area the scheme is bringing

significant capital investment and new

jobs in addition to adding to the

vibrancy of the retail destination”.

Obviously retail parks are a

major part of the south Yorkshire

shopping scene because the last

remaining units at the Onyx

Retail Park on the site of the

former Manvers Colliery at

Watch-upon-Deane, have been let.

The park was built by Onward

Holdings.

Commercial Property Register

November 2016 - May 2017

www.compropregister.com

6

NEWS

8

Branson

There is a solidity to the

performance of the commercial

property market in the region

with early indications of it

shrugging off the effect of

the Brexit vote.

To be fair, it is early days yet for

the trauma of leaving the EU with

negotiations spread over a number

of years (how many?). All the same,

Yorkshire has the ability to makes its

own decisions and think outside the box. That may come from a real

pride in Yorkshire.

That passion for the county was shown in bucketloads at this year’s

Olympics when its athletes won so many medals.

Of course, it has some natural advantages such as a fine motorway

network and well established towns and cities that have a history of real

industrial power.

The numbers indicate a positive market, whether it is city centre

lettings in Leeds or out of town business parks but also includes new

office and industrial development. Hopefully, the early indications of

more manufacturing capacity will prove to be long lasting and help

counter leaving the EU.

Sheffield encapsulates the changes in the region as it steers away

from undue reliance on the public sector that guided its property market

for so many years. The prospect of a new HS2 station in the middle of the

city is significant at a time when the council has been emboldened to

push new development of offices and shops.

NEW PARK,

new roads

Deals

GALORE

AND

Amazon flows

TO THE DON

Alex Hailey

Temple Green

iPort