By Chris Hyam, Agency Surveyor
The demand for industrial units across Hull and the East Riding has been consistently high over the past two years despite all the challenges facing business and industry – but throughout this time the market supply has been limited.
Put simply, there has often not been suitable industrial properties coming onto the market, something which can become a real issue when ambitious companies come to us as property agents looking for bigger and more suitable properties to help them grow.
Of course, there are always properties coming onto the market for a variety of reasons, but suitability is not always as required, and many older buildings are just too expensive to adapt and upgrade to meet needs.
I’ve lost count of the times I’ve been asked to show business owners the ‘most modern’ premises available.
So in times where demand consistently outstretches supply, you need new high-quality premises to be brought to the market, and for the past few years the economic environment has simply not been strong to enough for developers to risk such heavy investment.
New Hull industrial developments will offer flexible, modern space
Thankfully, on the back of a buoyant market, we are seeing such investment in Hull and two new high-quality developments are now being constructed at pace, and will be ready to house their first business before the end of the year.
At Garness Jones we are delighted to be assisting in handling sales and leases on both projects, for which are already unsurprisingly handling a growing number of expressions of interest.
The first development to have spaces available will be at Rotterdam Business Park on the east side of the city, developed by Springfield Steel Buildings. It is a site in a great location, with the new facilities benefitting from fronting onto the A1033/Holwell Road, having excellent cross city links as well as easy access to the ports of Hull to the east and wider motorway network to the west.
Construction is also well underway on a new site behind the popular Anlaby Retail Park, which is known for being home to the likes of M&S, Costa, Pets at Home, Next, Asda Living, Iceland and Peacocks. This site is being developed by the retail site’s owners The Derwent Group.
Again, the location is excellent, this time to the west of Hull, and here almost 50,000 sq ft of new industrial space is being added to the market, with the flexibility to house businesses of varying sizes, with 16 units ranging from 1,500 sq ft to a maximum of 25,000 sq ft.
As an industrial commercial property specialist operating in this area it is really exciting to be able to talk to prospective tenants and buyers about these developments, and to now be able to show them around as they take shape.
They both provide steel high-quality portal frame clear span units with composite cladding to the walls and roofs, and translucent roof panels to allow natural daylight in.
What is really pleasing about both is they are being developed in a flexible manner, adding high-quality and modern industrial facilities to a local market which has been crying out for new manufacturing and warehousing space.
First units available to occupy by summer 2022
The new units at Rotterdam Business Park are being constructed in phases, with Phase 1 due for completion summer 2022 and available for sale or to let.
We expect businesses to be in premises in Anlaby Trade Park, which also offers dedicated parking spots and cycle stores, before the end of the year.
In a market which has been crying out for these kinds of facilities, we expect to be crossing off the units taken very soon.
For further information contact Chris Hyam on 07889 537 866, or email at [email protected], or David Garness on 07721 524 355, and email [email protected]
