May Deals Update
At the start of May, we published our annual review, a look through some of our project highlights during from the past year. Click here to view our annual review.
In the North East we have a number of new instructions now on the market in a range of property sectors. We have a number of brand new industrial and office units available at Hownsgill Industrial Park, a well-established commercial area in Consett, County Durham. We have a further industrial unit available in Tyne Tunnel Trading Estate, North Shields, the large 22,775 sq ft is now available to let by way of a sub-lease.
A unique city centre restaurant/leisure opportunity has come on the market on Nelson Street in Newcastle city centre. The listed building forms part of the historic Grainger Market and comprises a leisure unit and office space.
In the Newcastle office market there was signs of the industry coming to terms with the continued political uncertainty with take up in the out of town market increasing by over 60% on the previous quarter. View the full Newcastle offices market update here.
In Manchester our machinery and business assets team provided initial asset valutation advice to FRP Advisory as part of the sales process of North Wales based Cambrian Park and Leisure Homes. The company was sold out of administration to Porthmadog holiday company, Cambrian and Sovereign Holding Group Ltd.
In Yorkshire we were pleased to sell the former Leeds Diocesan Office building to the Leeds Society for Deaf and Blind People. Acting on behalf of the Diocese we sold the offices in a competitive bidding process for in excess of the £500,000 guide price. Starbucks, the leading coffeehouse brand, is set to open a new shop at Meridian Point Retail and Leisure Park in Cleethorpes. Acting on behalf of Maltgrade Limited, we have let the 1,714 sq ft unit to the franchisee.
Our Leeds team also received a number of new instructions in April, including a prominent industrial unit available near Leeds city centre. The 9,057 sq ft light industrial unit is just half a mile from Leeds, offering tenants an affordable city centre unit with close proximity to major transport links.”
In the first quarter of 2017 the Leeds office market take-up stood at 160,679 sq ft, reflecting a 22,055 sq ft increase on the final quarter of 2016. You can view the full Leeds offices market update for Q1 2017 here.
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