East Midlands BOX4 Real Estate


For those who don’t know you, what is BOX4 Real Estate and what sets you apart?


BOX4 is a specialist advisory business focused solely on the UK indus- trial and logistics market. We launched in May and the business is made up of James Clements, Edward Kennerley, James Goode and Sam Royle. The four of us have decades of experience in the sector specialising in the Midlands and North West markets. What sets us apart is our ability to bring to bear the experience of four senior, director level, industrial agents on high profile agency instructions. It’s very much a case of getting back onto the front line of agency, which is a reaction to what clients have been demanding in a more nuanced market. The ‘one team’ approach specific to the North West and Midlands market is also unique and already reaping benefits, as we see an increasing amount of occupier transience across these two key regions in the UK Industrial and Logistics market. Many consultancy firms offer a ‘joined up’ approach across these regions, we don’t have to work to be joined up – we are one team.


BOX4 has built a strong reputation in the industrial and logistics market already. How would you describe your current focus?


An easy one to answer. Without doubt, the primary focus of BOX4 is repay the faith that our clients have placed in us since our conception, both those who have come over with us from our previous roles and those who have recognised and shared our vision of a focused and targeted approach to agency and brought us in on key assets. We are delighted to have already delivered on a number of fronts with several key lettings having transacted or in legals. Capturing results like this for those who have put their trust in us is incredibly reward- ing and is what drives us. In terms of locality, our focus is firmly on the Midlands and North West markets two regions that continue


to underpin the UK’s logistics network. The Midlands, in particular, remains the country’s strategic hub: centrally located, with motorway and labour access that continues to attract 3PLs, manufacturers and retailers alike. We work across the full lifecycle of projects from site acquisition and development consultancy through to leasing and supporting investment decisions. At the same time, data has become an integral part of how we operate. We’re combining on the ground agency expertise with our in-house analytics platform to bring more evidence based insight to landlords, developers and occupiers.


How would you describe the current state of the Midlands market?


It’s a market that’s evolving fast. After a quieter 2024, transactional activity has rebounded in 2025 with renewed occupier confidence particularly from third-party logistics companies. At the end of Q3, we tracked just over 5. 5m sq ft of take-up across 21 deals, pushing year-to-date activity beyond 10m sq ft. Availability remains elevated at around 28m sq ft, but there is an imbalance across size bands


What are you seeing in terms of occupier behaviour?


There’s a real focus on quality and efficiency. Power capacity, ESG credentials, and labour draw are driving decisions far more than headline rent. We’re seeing occupiers trade up in specification even if it means taking slightly less space. Third party logistics operators have been particularly active in the Midlands this year. Many of these occupiers want buildings that can be operationally efficient from day one and that’s influencing decision making across the board. Good quality second hand buildings with fit out are gen- erally leasing faster than their brand new counterparts.


From “Toxic Town” to UK’s Growth Dynamo


The recent Netflix mini-series, “Toxic Town”, made for difficult and painful viewing for anyone who, like us at Potter Learoyd Commercial, genuinely loves the steel town of Corby. That tragic historical chapter cast a long, dark shadow over the community for decades, yet what many people outside the region don’t realise is just how dramatically Corby has transformed itself. The story of Corby is one of resilience. After the devastating closure of the steelworks in 1980—which at one point left the town with unemployment exceed- ing 30%—Corby didn’t just survive; it engineered a total economic renaissance. Today, Corby is officially one of the fastest-growing towns in the entire UK, experiencing a monumental surge in both residential and commercial development. We wanted to move past the old narrative and share the facts and figures that prove Corby has emphatically shaken off its “Toxic Town” image over the past decade.


A Town on the Rise: Key Growth Indicators: The growth metrics are indisputable. The local population has surged from roughly 61,000 to over 80,000, with forward-looking projections suggesting the total could hit 110,000 by 2030. This growth is driven by major investment in both infrastructure and quality of life. Commercially, the scale of development is staggering. Almost 5 million sq ft of new commercial space has been completed, with an additional 3. 2 million sq ft either under construction or actively planned.


This is a staggering amount of space—the equivalent of over 115 football pitches—all designed to serve the UK’s burgeoning logistics and manufacturing sectors. This massive new capacity has attracted huge major employers who now call Corby home, including logistics hubs for Nike (1. 4m sq ft), Bosch Siemens (850k sq ft), iForce (850k sq ft), and DHL (500k sq ft), cementing Corby’s status as a central distribution hub for the whole country.


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Investing in Connectivity and Community: None of this growth would be possible without significant infrastructure improvements:


• • •


London Connectivity: The Corby Railway Station reopened in 2009, making direct rail travel to London St Pancras possible in just over an hour.


Roads: The Corby Bypass opened in 2014, dramatically improv- ing regional and national road links, a vital factor for its logistics economy.


Community: Corby has invested heavily in its social infrastruc- ture, too. Four brand-new schools have opened since 2012. Leisure facilities like the swimming pool, gym, health spa (2009), and the Corby Leisure Quarter (2015) with its cinema and res- taurants, have all boosted the town’s livability.


This investment is generating powerful confidence. Big-name retail- ers like M&S, Aldi, Lidl, and Sainsbury’s have moved in, and as of late 2024, the Corby Town Centre boasts a brilliant 95% occu- pancy rate. Crucially, over 50 new investors and developers from across the UK and overseas have recently acquired land, buildings, or investment assets, demonstrating a powerful belief in Corby’s future. Finally, a powerful reflection of this local confidence is the residential market: the average house price has risen sharply from circa £135,000 in 2010 to around £240,000 today—a clear sign of sus- tained demand. Corby has successfully navigated its post-industrial era to become a dynamic, high-growth location. The town’s current momentum, backed by major long-term plans like the West Corby and Priors Hall Sustainable Urban Extensions that will deliver thousands of new homes and jobs, suggests its next chapter is set to be the most exciting yet. Corby is not just shaking off the shadows; it’s building a brilliant new future, block by block and business by business.


COMMERCIAL PROPERTY MONTHLY 2025


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