Reusable packaging specialist Tosca has finalised a new 10-year lease from Onward Holdings Ltd, doubling the company’s warehousing capacity at the Yorkshire site. The deal combines two 30,000sqft units on the Green Lane Industrial Park in Featherstone.
Normanton 108, a substantially refurbished and upgraded industrial unit has been acquired off market by a private investor in an £8.6m deal. The purchaser was advised by Leeds property consultancy Gent Visick and the Leeds office of Knight Frank represented the vendor. The sale reflects a net initial yield of 6.5 per cent.
Brexit uncertainty and the online shopping boom have contributed to the current squeeze on storage space throughout the UK, however UK logistics operators requiring a base in Yorkshire have received a timely boost from property specialist Onward Holdings Ltd.
NEC Birmingham, June 18-20, Stand 7079: Businesses searching for warehousing in Yorkshire should head to Birmingham and the Multimodal exhibition at the NEC on June 18-20 to check out the Onward Holdings Ltd stand (7079), where they will find details of a range of options for storage and distribution.
Rapid progress is being made on the construction of a new high bay warehouse unit at Onward Holdings Ltd’s Phoenix 66 development on the Green Lane Industrial Estate in Featherstone. Due for practical completion by Tolent in August 2019, there have already been expressions of interest.
Online shopping has led to a spectacular growth of warehouse space, but there are competing land uses, particularly in the south east where industrial property developers are reportedly frustrated by housing developments being given preference leading to a depletion of potential warehousing sites.
Onward Holdings Ltd has awarded Tolent Construction the contract to build a new warehouse facility at its Phoenix Park site on the Green Lane Industrial Estate in Featherstone, following the granting of B8 planning permission. The facility should be available to lease by the end of June 2019.
Logistics property provider Onward Holdings Ltd is bracing itself for a stampede of enquiries from businesses frozen out by the Brexit effect after a warehouse unit became available in Yorkshire at its popular Langthwaite Business Park on the edge of South Kirkby, close to the major motorway networks.