GVA completes 500,000 sq ft of industrial lettings in Rugby

Leading independent property advisor, GVA has completed a trio of industrial lettings in Rugby totalling over 500,000 sq ft, marking increased demand for big sheds in the prime logistics heartland.

The 334,172 sq ft (31,045 sq m) Valley Cross 334 has been taken on a five and a half year lease by international distribution specialist DHL. Fully fitted, the unit comprises two linked, modern, cross-docked warehouse bays with a high quality, three story central office pod.

Restaurant fit-out specialist H&K Equipment Ltd has signed a 15 year lease for a 142,000 sq ft (13,000 sq m) Unit G at Swift Park. The letting, on behalf of Legal and General, has allowed H&K to consolidate a number of buildings into a single facility.

The 60,000 sq ft (5,574 sq m) building, known as Unit D, Swift Park, has been let to sofa specialists CSL Furniture on a five year lease.

David Willmer, Director, GVA, said: “Unit G at Swift Park was let within a month of the boards going up and this is indicative of the strong desire from warehousing and logistics operators for good quality premises in prime locations.

“With these and a number of other enquiries in the pipeline both around Rugby and across the Golden Triangle generally, there is less than 12 months supply of good quality big sheds in the regional market.

“If occupiers looking to move don’t act swiftly, they could find themselves forced into a design and build solution, which can create delays of 18 months and require longer leases and increased rents.”