Ryden Active in the Industrial Market
10 June 2010
In Yorkshire, Ryden has concluded four deals in quick succession, reinforcing that the industrial sector is still active, particularly within the 1,000 - 2,500 sq ft size bracket.
For landlord Industrious, Ryden completed two lettings at Mill Street West Industrial Estate, Anchor Bridge Way, Dewsbury. New venture company Bargin-Depot took unit 3 G & H, measuring 990 sq ft, on a five-year lease, whilst tile manufacturer Dantotsu signed a five-year lease on the 2,325 sq ft unit 5A. Both deals achieved strong rents between £4.00-£4.75 per sq ft.
In Morley, Ryden secured motor vehicle company UK Prestige at Vantage Point, Howley Park Road East. The 2,445 sq ft unit is to be used as a storage depot by the firm and was taken on a five-year FRI lease with a two-year break option at £5.50 per sq ft. A two month rent free period was included within the lease. UK Prestige will join existing tenants including Playdayz and Hand Pumps and Tanks (also previously signed up by Ryden) at the c.15,300 sq ft estate.
For Protego Real Estate Investors, Ryden (with joint agent Lawrence Hannah) let a 1,826 sq ft unit at 40-41 Auster Road, Clifton Moor Industrial Estate to Fletchers Fabrics Ltd. The fabric retailer has taken the warehouse on the popular estate which has a 5% void rate. The six-year lease was agreed at £8.00 per sq ft with a break at year three.
Steven Jones of Ryden commented: “These deals represent an efficient area of the market which is not being heavily incentivised and remains particularly active for occupiers that have a sustainable business model. Enquiries for this type of product tend to translate into deals and this subsequently offers consistently nominal void periods for landlords.”
Mr Jones added: “Two of the deals secured were businesses relocating within Yorkshire, and the other two were companies newly locating to the area, emphasizing that Yorkshire is still viewed as a great place to do business.”
Bargin-Depot, Dantotsu and UK Prestige were unrepresented in the deals, Fletchers Fabrics was represented by Wiles Chartered Surveyors.
