INDUSTRIAL STOCK SHORTAGE RESULTS IN SWIFT TAKE UP OF AVAILABLE WAREHOUSING IN NORTH STAFFORDSHIRE
Businesses are scrambling to snap up industrial property across North Staffordshire as soon as it hits the market as a result of a national shortage of warehousing, according to agents at Harris Lamb.
While there has been a widespread shortage of industrial property for a number of years, the Covid-19 pandemic has escalated the issue, partly as a result retailers being forced to close for months and relying on online trading, thereby leading to them sourcing additional warehousing, and also as a result of well-documented supply issues over the last year leading to businesses ordering and stockpiling goods to ensure their customers were not affected.
Becky Thomas, of Harris Lamb’s Stoke office, said that with supply failing to meet demand, those industrial opportunities that were available were being placed under offer within weeks.
“The dearth of industrial property in the region – and it is a problem throughout the country – is leading to would-be occupiers acting very quickly to secure suitable sites rather than seeking other properties and risking missing their window of opportunity.
“Most recently, a 10,554 sq ft trade counter warehouse on Parkhouse Industrial Estate in Newcastle-under-Lyme has been placed under offer within a month of being placed on the market by ourselves alongside Joint agent Gerald Eve on behalf of ATS Euromaster.
“Unit 46 has two ground level loading doors, a 5.9m eaves height, fully- fitted ground floor offices and trade counter, further office accommodation on the first floor and a yard and car parking to the front of the property.
“Located within easy reach of both Junctions 15 and 16 of the M6, and with Newcastle town centre 3.5 miles away, the estate has an established range of national occupiers including FedEx, Howdens, Screwfix and Toolstation, which understandably attracted a great deal of interest prior to being quickly placed under offer with terms to be announced upon completion,” she added.
A further property, a 3,460 sq ft warehouse on the established Loomer Road Industrial Estate, also in Newcastle-under-Lyme, is also now attracting strong interest from potential occupiers, despite having only been brought to market within the last few days.
“This particular property, Unit 17, was placed on the market just last week on behalf of a private investment client, and already we have been inundated with enquiries to either lease or purchase the property,” Becky said.
“The unit has onsite parking and two-storey offices, and is in close proximity to the A34, and two miles from the town centre. Junction 16 of the M6 is six miles away. The warehouse is available to let, but the owner is also prepared to consider offers to purchase. Based on the high levels of interest, and lack of available stock, we anticipate continued strong interest in the property and hope to place this under offer before the end of the year.
“We are hopeful that 2022 will bring investment into further industrial development within the area to meet the huge demand that is so far escalating, rather than abating,” she added.