Sheds Soar, Despite Brexit
The U.K. haulage sector may be pulling out their hair in frustration as the government announces a lottery to distribute just 3,800 licenses to 40,000 vehicles wanting to cross the Channel in the event of a no deal Brexit, but the East Midlands shed market is booming nonetheless.
Symmetry Park, Biggleswade, which extends to 50 acres, was purchased by db symmetry in summer 2017. It has planning permission for 1M SF of logistics floorspace.
“Midlands industrial and logistics markets continue to perform well, with upwards pressure on rents resulting from continuing occupier demand, and a shortage of land, especially around the Birmingham conurbation," Cushman & Wakefield Industrial Partner Simon Lloyd said. "Rent growth across the region has been strong for the last two-three years, resulting in a higher base rent for future growth rates. Given the market dynamics, this trend is set to continue."
Colliers and Brown & Lee act for db symmetry at Symmetry Park, the Co-Op were advised by Matthews & Goodman.