Industrial and Logistics Market Continues to Flourish

Industrial and Logistics Market Continues to Flourish

The Industrial and Logistics market across Teesside and County Durham continues to flourish according to Chartered Surveyors Connect Property North East (CPNE) who have concluded a number of lettings in a busy third quarter of 2017.

Lettings have been done at Newton Aycliffe, where over 60,000 sq ft has been let CPI, Entaco Ltd, Nightingale Beds and Forget Me Not Pet Crematorium, who have all taken space as part of their ongoing expansion plans.

On Teesside, two of the larger lettings have been to Warrior, who have taken a lease on an 18,000 sq ft warehouse on Preston Farm, Stockton on Tees and Whitewash Laboratories (pictured) who have relocated from Bolkow Industrial Estate in Middlesbrough to a 16,000 sq ft warehouse at Cowpen lane, Billingham.

Teesside Industrial Estate, continues to be the region’s best performer, where construction is underway on a new 6 acre site for heavy lifting specialist Mammoet.

Other points of note on the estate are a new 11,000 sq ft One Gym and JOS North East expanding into 5,000 sq ft on William Crosthwaite Avenue.

Jonathan Simpson Director  of Connect Property North East commented “We have built up some excellent momentum through the recent lettings over the summer period, which can generally be a quieter time in the commercial property sector. Take up has been very encouraging since the uncertainty of the Brexit vote back in June, and whilst we have witnessed a slight wobble, the market continues to show positive signs. With the summer out of the way now, it will be interesting to see how the market progresses towards Christmas”