PAI members Fenn Wright give a commercial update for the Eastern region:
Over the past few months, the warehouse and industrial sector has continued to thrive, despite Covid-19. The lockdown period saw an acceleration in online shopping, leading to an increase in demand for general logistics space across most size ranges from 5,000sq ft to 150,000sq ft.
Ongoing transactions continued almost unaffected with Fenn Wright letting or selling 18 units during the lockdown period, including four units over 20,000sq ft.
All companies and consumers will have experienced difficulties in sourcing certain products and we see demand for warehousing continuing to rise as businesses now endeavour to increase resilience in their supply chains. We are also beginning to see signs of companies looking to bring manufacturing back from overseas, with perhaps more emphasis on supply control and less on cost.
The Eastern region is well placed to take advantage of these changes in an adapting market, being close to the UK’s largest container port in Felixstowe which deals with 48% of Britain’s containerised trade. We also have substantial land holdings along the A12 and A14 corridors and good transport links to London and its main port in Tilbury.
Further growth in online shopping, investment in new nuclear and offshore energy projects and future expansion in domestic manufacturing will all continue to fuel the industrial and distribution sectors.
For those in the market for industrial and warehouse space in Essex and Suffolk, here is a selection of properties currently on the market with Fenn Wright.
To Let: Boss Hall Distribution Centre, Ipswich, Suffolk – 127,562sq ft. (11,851sq m.)
Boss Hall Business Park is situated on Sproughton Road, less than 1 mile from the A14 which links to the A12, Felixstowe, Cambridge, Colchester and the national motorway network. A substantial distribution warehouse, with 9 metre eaves, 10 dock leveller loading doors and two large service yards. Available on a short-term lease, with rent and further details available upon application.
To Let: Hangar 1, North Weald Airfield, North Weald, Essex – 34,747sq ft. (3,228sq m.)
This is a new instruction located within 3 miles of the M11/A414 Interchange. The unit benefits from an excellent minimum eaves height of in excess of 9 metres and has a secure yard measuring 0.67 acres. Rental offers are invited in excess of £160,000 per annum exclusive.
To Let: Unit 34 Foxtail Road, Ransomes Europark, Ipswich, Suffolk – 27,772sq ft. (2,580sq m.)
Located on Ransomes Europark, adjacent to the A14, this industrial/warehouse unit is immediately available on a new FRI lease. The property is arranged within three interconnected bay and benefits from a large yard. Consideration would also be given to letting the unit in two parts or a freehold sale.
To Let: Northern Road, Sudbury, Suffolk – 43,000sq ft. (3,995sq m.)
Prominently situated on the A134, this refurbished warehouse has around 80 metres of road frontage and is available on a new lease. The property comprises a three-bay warehouse with dock loader access to the front and benefits from B8 storage and distribution use.
To Let: 1 Stephenson Road, Clacton, Essex – 17,550sq ft. (1,630sq m.)
A large and prominent building suited to light manufacture/assembly due to its low eaves height. We would suggest that due to lack of availability, any warehouse operators looking in Clacton should give this consideration. Marketed at £100,000pa.
To Let: 7 Easter Park, Colchester, Essex – 6120sq ft. (569sq m.)
This is a new instruction in the town, a high-quality unit located directly adjacent to the A12. This unit would be well suited for a satellite depot with good eaves and pitch height for a unit of this size. Marketed at £47,500pa.
For further details on any of these properties please click here.
Pictured: Hangar 1, North Weald Airfield, North Weald, Essex