acquired at the end of 2015 by property firm Rockspring in partnership with industrial asset specialist Caisson Investment Management. A six figure refurbishment programme is ongoing. James Ward, Partner at Caisson


How a Turbulent 12 has Transformed the Logistics Market The last 12 months month’s in the North


East Industrial Property market has had its winners and losers according Jonathan Simpson , Director at Connect Property North East.


Investment Management, said “Our strategy of refurbishing units and improving the estate in general is proving to be the right one to attract new tenants, and demonstrates the landlord’s commitment to the estate to existing tenants. Now that the refurbishment is complete and coupled with the excellent work from our letting agents Connect Property North East, we are pleased the estate is at its highest occupancy rate since


to the further detriment of the high street. The change consumer shopping dynamics, a reluctance to return to the high street, stay at home working all bodes well for the logistics market going forward.


investment committed by our client to Morton Park. In the last two years not only has the park attracted a significant number of new tenants, the majority of existing tenants have also committed their long- term futures to the estate. The estate’s largest unit, J1 comprising 6,200 sq.ft is now under offer, and on the basis it proceeds to completion, will bring the void down to less than 10% for the first time, which is excellent for an estate of this size” Wayne Richards, Managing Director of


Autoglaze, who have just relocated to a 2,600 sq.ft unit, commented “ we are


The lockdown announcement in March came as a shock to many, with the working world as we knew it completely changing within in 24 hours. Within the space of a week, for the first time in my working life email and phone traffic came to a complete standstill for several weeks, with the


exception the odd call to bemused clients and our contemporaries within the market. We temporarily closed the office and began working in isolation at home. I can remember discussing with colleagues and clients “is this it until September, were transactions under offer, going to proceed and which sectors would be looking for space during the next six months” What proceeded us was very worrying times for families and business in general.


It is fair to say, that despite the brief interruption of lockdown, things were soon up and running again. The handbrake was slightly eased, risk assessments and PPE in place, we started to undertake viewings. What transpired after this became one of the busiest July and Augusts that we have had as company. The majority of deals that were agreed pre-lock down proceeded full steam ahead to completion, with what was more surprising no price adjustment or re-negotiation. What followed were unprecedent levels of enquiries from the likes of, the online DIY sectors, Parcel Delivery, E-Commerce, new start up businesses, and Third Party Warehouse providers seeking both new and additional space. We have also directly witnessed shop keepers/ new start up SME’s taking small units to sell products on line, much


PD Ports Unveils New Digital Platform to Promote the River Tees and Boost International Competitiveness


PD Ports, Statutory Harbour Authority for the River Tees and owner and operator of Teesport, has launched a new digital platform aimed at promoting the unique strengths of the river and supporting the Government in delivering its ‘levelling up’ agenda for the North.


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The new platform, which will be a vital tool for river users, potential investors and stakeholders to access a wealth of information about the river’s world-class operations, has been in development since late 2020 as part of the Statutory Harbour Authority’s continued commitment to maximise investment and job opportunities across the Tees Valley.


Frans Calje, PD Ports CEO, explained why the new digital hub will help accelerate the Company’s future vision – to make the River Tees the UK’s most successful port region by 2050 – whilst also supporting future trade growth and strengthening Teesport’s position as the Northern Gateway for international trade.


“The River Tees is the lifeblood of the Tees Valley and a leading gateway for international trade, providing 24/7 access to global markets and linking the region to key industrial connections around the world,” said Frans.


“The new website will showcase the unique strengths of our region to inward investors, demonstrate the world-class infrastructure and unparalleled connectivity we have at Teesport as well as promote job and training opportunities in order to drive social value in the Tees Valley.


One of the busiest and most progressive ports in the UK, Teesport contributes in excess of £1.4billion to the UK economy every year and supports over 22,000 jobs in the supply chain.


COMMERCIAL PROPERTY MONTHLY 2021


Similarly certain sectors of the manufacturing industry have been busy acquiring space, for the likes of civil engineering related projects, PPE, and home improvement related manufacturers, where as other sectors have been slow to get going, and in some cases have had to cease production temporarily. One thing we haven’t seen is a raft of new instructions and empty buildings flow to the market, during these unprecedented times, but this maybe something we see in the new year when we discover the real outcome of “the new perceived norm”.


The North East, more so now than ever is starting to suffer from a shortage of good quality industrial and warehousing stock, with a number of new government assisted development schemes in Teesside and County Durham benefitting from good take up over the last 12 months, as well as creating new pioneering rents in the market place. Since the turn of the year appears no slow down in take up, with the question on the lips of many, where will the next raft of stock come from and will the end of Furlough and the governments protection of tenants, bring a new churn to regional property market?


We are working with a number of developers on small unit speculative developments across the region, to meet the ever increasing demand for starter units up to 5,000 sq ft, but will the recent unprecedented take-up, shine the light the developers in the North East to spec build once again without outside assistance?


Visit: www.cpne.co.uk


Property Firm Tops Most Respected Leaderboard in Industry


A North East full-service property firm has been announced as ‘The Most Active Agent’ in the region for Investment and Retail deals in the most respected contest in the industry.


Bradley Hall Chartered Surveyors and Estate Agents was announced by Estates Gazette as top in the Investment and Retail categories for deals completed throughout 2020.


This adds to their three-year winning streak as overall Most Active Agents in the region throughout 2018, 2019 and 2020. The figures are based on Radius Data Exchange and provide a detailed breakdown of 2020’s full-year transaction volumes on both national and regional levels and across various property types.


Group Managing Director, Neil Hart, said: “Despite what has been a challenging year, this win highlights that our dynamic, passionate and dedicated team can evolve and adapt in order to deliver results for our clients. We continue to compete and surpass the national and specialist agents which operate in the region.


“Property industry activity is vital to maintain a healthy economy, including having a huge impact on employment via direct, indirect and induced jobs and spending. It is our priority to get deals over the line not only for us and our clients, but for the wider impact it has on our fantastic cities, towns, and communities.”


Bradley Hall beat other local firms including Gavin Black and Partners as well as national agents Knight Frank, Sanderson Weatherall and Cushman and Wakefield to receive the top accolades.


Nicholas Bramwell, senior surveyor at Bradley Hall, said: “This acknowledgement from EG is another outstanding milestone for the commercial property team at Bradley Hall. Our success continues thanks to Bradley Hall’s growing network, reputation and presence in the market.


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