Orbit Debuts In Super Hot Spec Shed Scene
Cheshire-based Orbit Developments has entered the speculative shed market as the North West’s logistics property scene reaches boiling point.
Orbit’s debut in the spec shed scene will be a 220K SF Merseyside warehouse development which will be next to the Amazon, QVC and Matalan hubs at Knowsley.
The distribution centre at Academy Business Park will have an initial first phase of 110K SF which will consist of 100K SF of warehouse space and 10K SF of ground and first floor office accommodation.
“We’ve never built anything of this size speculatively before and we’ve definitely not done anything like this within the past 10 years,” an Orbit spokesperson told Bisnow.
In May last year Orbit scored one of the year’s largest industrial deals, letting 368K SF of newly refurbished space at the M58 Distribution Centre to tissue paper business Accrol.
“We have had a very encouraging year with regard to our industrial and warehousing portfolio with just under half a million square feet let at our M58 Distribution Centre in Skelmersdale and some significant trade counter lettings at Aintree Racecourse Retail and Business Park,” Orbit Developments Divisional Director for Merseyside Dennis Dwyer said.
“This confidence in the market and a lack of quality new build accommodation has provided the impetus to press on with this first phase of development at Academy Business Park, Knowsley to satisfy demand within the North West.”
The joint agents for the scheme are CBRE and B8 Real Estate.