This page contains a Flash digital edition of a book.
The North West 2020 Annual Survey 2020 A Very Bright Start

John Barton Bsc MRICS Director BC Real Estate Ltd reports that “Last year had been quite difficult with the uncertainty surrounding Brexit giving a “stop/start” feel to proceedings, in particular at the larger end of the market. However the final quarter of the year saw around 2m sq ft go under offer. Many of these large occupational deals have now happened which has given 2020 a very bright start. The largest deal has been Kellogg’s who have just signed up to Bericote’s brand new Haydock 525 warehouse, a facility of 525,000 sq ft and Japanese International Tobacco have taken a refurbished unit of 450,000 sq ft at Titan, Knowsley from new owners, Patrick Properties.

Vengrove have secured the sale of their 2 unit, Evolution at Agecroft scheme in Salford to a single occupier, achieving levels equivalent to investment value. The deal has exchanged with completion expected shortly. The two buildings are circa 200,000 sq ft.

Following the Conservative election victory at the end of 2019, there definitely appears to be more confidence in the market with the above substantial deals happening, occupiers who had previously put their requirements on hold now ready to re-circulate their requirements and investors / developing showing a real interest again in the logistics /industrial sector. The political status of the country is stable and the consensus that the government is now in a position to deliver favourable trade agreements, is starting to the build back up the confidence of arguably the best performing sector in the North West, possibly the UK. The coronavirus has of course seen a stutter to the start of the year in terms of the financial markets but the hope is of course, that this is only a temporary blip which will not affect the medium term strategies of occupiers, developers or investors.

Where we are seeing increasing demand coupled with a lack of supply for good quality / new build accommodation is in particular for detached units with their own yards between 20,000 – 100,000 sq ft and also for single units in excess of 300,000 sq ft.

The likes of Logic at Kingsway Business Park (Rochdale Council), Novus at Alderley Edge (Chancerygate), Mere Grange, St Helens (Network Space) and Chamberhall Business Park, Bury (St Modwens) which are new build multi-let speculative schemes are performing exceptionally well and more of these schemes are needed throughout the North West. There are also a number of unsatisfied requirements such as L’Oreal and Dixons Carphone, who are both in the market for 300,000 sq ft plus and are restricted to looking at only a handful of options. There is a strong argument therefore to say that the market warrants more speculative developments on single units of this size. There is less than 3m sq ft of Grade A space available which is less than 1.5 years supply assuming the long term yearly average. Much of this space is within the 100-200k bracket meaning bigger 300k plus requirements are struggling to identify space.

Rental growth has continued and is now established above £7.25 per sq ft for mid-box and above £6.50 per sq ft for larger warehouses. We would expect the levels of demand to mean this trend continues or probably even accelerate, if demand begins to outstrip supply.

The early signs are very encouraging and so we are hopeful that this year will be a good year for the North West Industrial market. Its very important that new development is able to keep pace with demand however”. LOOKING TO SELL OR RENT A WAREHOUSE?

NEED ADVICE ABOUT BUYING OR RENTING A WAREHOUSE? • Fastest Growing Niche Industrial Agency Practice In The North West. • Advising a range of Industrial Occupiers across the North West.

KINGSLAND GRANGE Warrington 36,224 Sq Ft


151,000 Sq Ft


Unit 1 - 130,000 Sq Ft Unit 2 - 70,000 Sq Ft

MILL HILL STREET Bolton 80,000 Sq Ft


REAL SUCCESS. Whether occupier or landlord, please contact either John or Gary if you have a property issue you would like to discuss.


0161 636 9202

John Barton

Gary Chapman



C. 51,000 SQ FT RENTED





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