Industrial/Warehouse News

There has been a flurry of lettings resulting in near full occupancy at Amber Business Centre, reports Tim Richardson at FHP Property Consultants. During the month of May a further 3 lettings were concluded totaling 26,291ft².

Unit 1.1/1.2 was let to Synergy Car Centre as part of their expansion plans. Synergy are an established car dealership and the premises ideally suited their requirement providing bright and airy display accommodation, together with generous external parking areas. A change of use was obtained prior to completing the lease.

Carl Ditta from Synergy Car Centre commented:

“The unit occupies a prominent position at the entrance to the estate and fronting Greenhill Lane and ideally suited our needs. The site is readily accessible with easy access from the A38 and FHP structured a deal which caters for our expansion plans”.

Unit 18.1, being a modern end terrace unit of 4,573ft² was let on a new lease to Evans Light Haulage who have relocated from Ripley.

Unit 15.13 has been taken by Kustom Coatings who have relocated from Derby. Kustom are hydrographic water transfer suppliers predominantly to the automotive industry and were attracted by the location and accessibility of the estate.

Two more starter units are under offer and due to complete shortly, leaving only one unit currently remaining available of approximately 12,400ft². This is to be refurbished soon prior to being offered to let.

Tim Richardson from FHP comments:

“The succession of lettings completed at Amber are indicative of the ongoing demand for well-located industrial and warehouse premises from SME’s. Take up is such that we are now finding it difficult to accommodation requirements and with no new development of units at the smaller end of the scale, there is a distinct supply side shortage. We have seen rents increase over the last 12 months to the extent that we are now approaching prerecession levels on second hand buildings. The freehold market is no different with very few industrial properties around for businesses to buy. Build costs have increased dramatically making new development difficult, except for large distribution units, so we continue to see second hand freehold costs rise”.

Philip Caspell, Asset Manager at landlord Commercial Estates Group comments –

“It is great to welcome a number of new tenants to Amber Business Centre. It is encouraging to see the estate now approaching 100% occupancy with the increased level of take-up being reflective of the wider warehouse & industrial property market, where a constriction of supply is meeting an ever-increasing level of tenant demand.”

For further information please contact Tim Richardson at FHP on 01332 343 222.

View press release