Harris Lamb Blog – 24th Feb
24th February, 2011.
Automotive Industry Driving Midlands Property Requirements.
By Neil Slade, Commecial Agency.
It makes a change for the Automotive Sector to be making headlines for all the right reasons in the UK. The relative health of the automotive sector and its continuing ability to innovate and push ahead in its worldwide markets has meant many of the Midlands manufacturing plants are looking to expand their businesses.
The implications for the property sector that we have seen show a growing level of new property requirements that are related to the automotive sectors around the West Midlands.
At the beginning of February, for instance, Jaguar Land Rover (JLR) announced they were set to create 1,000 engineering jobs as part of its next step “towards becoming a billion pound company”. There has also been an announcement that Spyker, the Dutch Supercar manufacturer, is creating 40 new skilled jobs in Coventry as it ramps up production of its new “Supercar” the C8 Aileron all from a new bespoke assembly plant close to the producer CPP’s main facility on Seven Stars Industrial Estate in Coventry.
The depreciation of the pound over recent years has been of benefit across the manufacturing sector in the UK. The published figures in the last round of GDP numbers showed manufacturing as the strongest part – up 1.4% and the Purchasing Managers Index (PMI) showed activity in the manufacturing sector expanding at its fastest rate in its 19 year history. This health in manufacturing in the UK is being aided by the Midland automotive industry.
In property terms we are seeing a range of requirements for factory and distribution space. The requirements are from Tier 1 automotive suppliers as well as from supporting companies. Size requirements are in a range generally from 30,000 sq. ft. up to 250,000 sq. ft. and the emphasis geographically is, in the main, to be in close proximity to JLR’s existing plants and the BMW engine plant at Hams Hall.
At Harris Lamb we are acting for a couple of automotive suppliers and their requirement criteria are exacting but we are managing to place and match the requirements we have by virtue of our market knowledge and working side by side with our clients.
If you have a property requirement and would like advice and help in looking for the ideal solutions we may be able to help.
Neil can be reached on 0121 455 9455 or via email: email@example.com.
Disclaimer: The views expressed within this article or weblog (‘blog’) are the personal views of the contributors and authors only and do not necessarily reflect the views of any named companies or thier employees.