Investor, Urban Logistics REIT (ULR) and Developer, Wilson Bowden Developments have commenced the speculative development of four new units on Blenheim Industrial Estate, Nottingham. The new units will deliver Grade A warehouse space with availability from as early as April 2022 for practical completion. The units could create up to 200 new jobs for the area. The four units comprise detached Grade A warehouses of 18,000 sq ft, 24,000 sq ft, 43,000 sq ft and 81,000 sq ft with a combined total of 166,000 sq ft.
John Proctor, Director of FHP Property Consultants commented:
“This scheme will provide much needed Grade A warehouse space to Junction 26 of the M1. The current level of supply of existing warehouse space is close to zero, which has provided ULR with the confidence to build these units out speculatively. We are pleased to report we already have a good level of interest in a number of the units and hope to be able to confirm pre-lets in the coming months.”
Toby Wilson of M1 Agency commented:
“The Nottingham warehouse market is currently starved of sub 100,000 sq ft new build Grade A stock and the four units’ size and specification will help to fill this void, especially given their strong sustainability credentials and good surrounding labour supply. The active market we are currently in the midst of is driving strong occupier demand with good levels of initial interest pre-practical completion in April of this year.”
John Barker of Urban Logistics REIT commented:
“Progress on site has been swift and we anticipate completion of the four units with them ready for occupation by the end of April this year. The market remains strong and we have deals agreed and interest in all of the units, so for any potential occupier, please do talk to our agents as soon as possible as the lack of supply throughout the region is evidenced by the strong interest we have in all four buildings going up on site.”