44 LOGISTICS
Continued from page 43
The M65 is now recognised as a corridor of opportunity, and it is only going to get better. Lancashire Central will help with that.”
She also emphasises the impact logistics developments can have. While much of the current focus is on town centre regeneration, big sheds bring with them major employment and can play their part in the levelling up agenda. Caroline says: “They generate jobs and rates for the local authority.”
Property developer HBD is involved in two high profile logistics and industrial schemes in the Preston area. Its initial joint venture (JV) with east Lancashire based Barnfield has seen the 70,000 sq ft first phase of EAST completed, with phase two of the site, next to the M6, now in progress.
A second JV with Barnfield has seen a planning application submitted for 800,000 sq ft of industrial and warehouse space at Roman Way, to the north east of the city, also close to the M6.
Dan Lawrenson, development surveyor at HBD, says demand for space in Lancashire is so great, “we received more requirements than we can accommodate at EAST”.
He adds: “Although capital markets have been impacted by interest rate rises, with fewer funds now in the market, industrial and logistics has held up well and continues to out-perform other real estate sectors.
“Parts of Lancashire that benefit from close proximity to the motorway network will remain a very attractive logistics location, such as Preston.
Caroline James
“The logistics market in Preston continues to perform well from an occupier perspective, despite the current market challenges, which is very encouraging.
“We developed five speculative units as part of our first phase at EAST - all of them were let, demonstrating strong occupier demand for high-quality, well-located industrial space in Lancashire.”
Danny Pinkus, at Preston based commercial property specialist Robert Pinkus and Company, says despite the upturn in potential developments Lancashire still has an availability problem when it comes to land availability.
He says: “There remains a shortage of well- located sites for logistics and industrial use.
“We are in a bit of a vacuum at the moment, which has been a reason why prices and rents have been pushed up.”
Danny Pinkus
It is great to see ongoing developer confidence in the
area for speculative development
He adds that with logistics operations taking most of the developments coming out of the ground there is a real need for smaller units and more sites for manufacturing,
And he says: “There has been a big focus on housebuilding. Some of the land taken up by housing should have been employment sites, without question.”
GETTING THE JOB
DONE!
974,649 sq.ft. + 9 Tenants Built out and fully-let in 3.5 years 55% Distribution / 45% Manufacturing
01254 681133
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76
