A NOTTINGHAMSHIRE warehouse has been sold by joint agents Innes England and BNP Paribas Real Estate in one of the largest industrial transactions in the region of the year so far.
The joint agents acted on behalf of receivers in the sale of a 140,000 sq ft high bay warehouse unit at Manton Wood Business Park in Worksop.
The property has been speculatively purchased by a private investor who was represented by Sheffield based Campbell & Co.
The building was purpose built in 2007 for Innovate Logistics and as such provides modern accommodation constructed to an excellent specification offering both ground and dock level access doors with a 12 metre clear internal working height on a secure self-contained seven acre site.
Alastair Campbell commented: “Manton Wood is a popular trading location providing access to both A1 and M1 national trunk roads as well as a number of main arterial routes. This has led to a number of national occupiers locating nearby including Solway Foods, Laing O’Rourke and OXO as well as the establishment of a national distribution centre for B&Q and the UK headquarters of Wilkinson UK.”
The transaction was handled by Innes England’s Nottingham Office and BNP Paribas Real Estates Sheffield Office. Craig Straw, director at Innes England’s Nottingham office, added: "This transaction is a further sign of positive activity in the industrial market which continues to gain momentum."
The building can offer either ambient or chilled warehousing, or a combination of both. It also benefits from a substantial power supply and so could equally be suitable for manufacturing occupiers. It was this flexibility combined with the proven location which attracted the purchaser to the opportunity.
We are finding that occupiers are still focused primarily on the second-hand market with the take up of existing space accounting for 93% of total industrial activity last year.
Innes England has also recently been instructed to dispose of a 260,000 sq ft industrial facility elsewhere in Nottinghamshire demonstrating further movement in the market.”
Stuart Waite said “This transaction is further evidence of good levels of demand for well positioned 2nd hand industrial and logistics stock, largely due to difficulties surrounding pre-let activity and the immediate availability of good quality existing stock on competitive terms”.