The East Midlands
Leicestershire Remains Highly Sought-After Location for Investment and Relocation
In this article, Alex Reid, Head of Commercial Property at Mather Jamie comments on the past couple of years market activity and Leicestershire’s ongoing attraction as an area for further inward investment and relocation opportunities.
Leicestershire is a pivotal player in the East Midlands, mainly thanks to its prominent position within the Golden Triangle for the UK logistics market. As a result,
it is no surprise that logistics and industrial space has dominated the property market over the past few years and remains the most robust asset class going forward - even given economic headwinds of interest rate rises, inflationary squeeze and post Covid recovery all having an impact on occupiers and developers alike.
Whilst the “Big Sheds” have dominated the new build sector, a few recent schemes have provided some smaller ‘mid-box’ accommodation for some of the more local occupiers seeking new buildings below 100,000 sq.ft including the recent new developments at Bardon of Tungsten Park and Bardon Hill. These are delivering nine units over two sites between 20,000 sq.ft and 118,000 sq.ft and Mather Jamie has played a role in delivery and letting to national, regional and local occupiers.
The demand for quality commercial properties remains robust, but demand for spaces exceeding 100,000 square feet has become more concentrated on new build accommodation with high ESG credentials as well as location and capacity.
However those occupiers are more specific contract led than previously in the search for space in whatever form. In contrast, the market for smaller and mid-box properties from 2,000 sq.ft – 20,000 sq.ft and 20,000 – 100,000 sq.ft
remains vibrant. Demand continues to outstrip supply, prompting ongoing discussions with property owners, developers, local businesses, and inward investors regarding their long-term expansion plans. By understanding the needs of occupiers, Mather Jamie aims to continue to advise developers and landlords on new and existing building stock to meet this demand.
Recent activity has continued despite concerns expressed in the media as occupiers still require quality floor space located in the centre of the UK taking advantage of the fantastic road network enjoyed in Leicestershire of the M1, A42/M42, M69, A50, M6, A5. In addition, East Midlands Airport, the largest dedicated air cargo save for Heathrow, is a major attraction.
These major advantages as well as motivated skilled local labour force continue to attract occupiers, employers and developers. Noteworthy sites developed in the last few years and in some cases with more to come include Bardon Hill, LEDP, Interchange, Griffen Park, Optimus, Leicester Commercial Park, SEGRO, Tungsten Park, and several others.
Mather Jamie is now working on several new sites to bring both local and nationally needed new build space in and around Leicestershire including major schemes on the M1 & A46 to the West & North of Leicester.
Over the past year, our property team has been exceptionally active, overseeing deals valued at £65 million, encompassing over 1.6 million square feet of industrial space. This remarkable achievement was accomplished by a single office with a specialist dedicated commercial team of just 4 professional advisers based in Loughborough. This led to me receiving the coveted CoStar Deal of the Year award for our sale of 674,000 sq.ft in Melton and the wider professional team accomplishments led to Mather Jamie recently receiving the “Client Adviser of the Year Award” and being shortlisted for three other major property awards.
UNIT 1
THREE INDUSTRIAL DISTRIBUTION/WAREHOUSES
COST EFFECTIVE WAREHOUSING
IMMEDIATELY AVAILABLE
FULLY FITTED
MELTON MOWBRAY LE13 1BY WHAT3WORDS ///
BACKED.ALLY.ITSELF
TO LET 131,000 - 674,099 sq ft
UNIT 1 SIZE
PALLET RACKING FLOOR LOADING
LEVEL ACCESS DOORS DOCK LEVEL DOORS POWER
VEHICLE MAINTENANCE UNIT EAVES HEIGHT
AVAILABLE Q1 2024 131,282 sq ft 8,572 sq ft 8M
2,973 SPACES 50 kN/m2 13
2 & 1 RAMP 500 KVA
UNIT 2 SIZE
EAVES HEIGHT
PALLET RACKING FLOOR LOADING
LEVEL ACCESS DOORS DOCK LEVEL DOORS POWER
IMMEDIATELY AVAILABLE 308,795 SQ FT 8M
20,488 SPACES 50 kN/m2 19
2 RAMPS 500 KVA
UNIT 3 SIZE
EAVES HEIGHT
PALLET RACKING FLOOR LOADING
LEVEL ACCESS DOORS DOCK LEVEL DOORS POWER GAS
IMMEDIATELY AVAILABLE 225,450 sq ft 18M
30,992 SPACES 50 kN/m2 5 5
1250 KVA YES
CONTACT THE AGENTS
Alex Reid - 07976 443 720
alex.reid@
matherjamie.co.uk
UNIT 3
UNIT 2
Georgina Thompson - 07793 461360
georgina.thompson@
m1agency.co.uk
James Keeton - 07812 250 857
james.keeton@
m1agency.co.uk
Toby Wilson - 07500 926 727
toby.wilson@m1agency.co.uk
COMMERCIAL PROPERTY MONTHLY 2023
65
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