| the yorkshire region
NEW WAREHOUSES AND LAND ACTIVELY BEING SOUGHT FOR CLIENT
A
cting on behalf of retained client Onward Holdings Ltd, Andrew Miller Chartered Surveyors of Sheffield, are actively looking to acquire additional warehouse units and land as part of the client’s long term investment plans. Andrew Miller has acted as retained
surveyor to Onward Holdings for over 20 years and this latest acquisition drive is aimed at delivering much-needed warehousing space for logistics operations in the Yorkshire area.
The Featherstone-based property
company already offers a range of warehousing space from 50 sq.ft self- storage units up to distribution warehouse space of 126,000 sq.ft. Yorkshire and the M62/M1/A1M corridors in particular are seen as a key location for many businesses seeking to move or expand its supply chain in the north of England, but a shortage of suitable warehouse space is hindering the logistics property market in one of the UK’s most important economic regions. The significant knock-on effect of the UK’s economic recovery is a result of
increasing demand from third party logistics providers and the continuing expansion plans of e-retailers seeking additional capacity for their customer fulfilment centres. These factors have led to a sharp fall in available sites. Indeed Onward Holdings currently have very little existing stock available, hence the drive to
At the end of 2015
Andrew, acting for the same client, acquired a 100,000 sq.ft warehouse at Normanton Industrial Estate at Junction 31 of the M62.
acquire more property and land. Acquisition of new space will complement the client’s existing warehousing space in various locations including Normanton, Castleford, Doncaster, Ackworth, Scunthorpe and Featherstone.
Andrew Miller has acquired a number of warehouses and parcels of land for the client over the past few years including two parcels of land at Green Lane Industrial Estate, Featherstone. One, a 1.6 acre site which has recently been granted planning consent for up to 20,000 sq.ft of industrial and storage space and the other, a larger 4 acre site which will, subject to planning, accommodate up to 75,000 sq.ft of high bay distribution warehouse space. Occupier interest on a D&B basis is now being sort. At the end of 2015 Andrew, acting for the same client, acquired a 100,000 sq.ft warehouse at Normanton Industrial Estate at Junction 31 of the M62. The warehouse which is temporarily occupied by a very well know internet retailer, will soon be extensively refurbished and is on the market seeking a new tenant. Indeed discussions are already underway with a number of interested parties.
Planning ahead to continue the client’s expansion programme has been key to Andrew’s successful acquisitions for Onward Holdings and this latest acquisition drive will continue that process.
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COMMERCIAL PROPERTY MONTHLY 2016
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