Property consultancy Commercial Property Partners (CPP) has facilitated more than £80M worth of investment deals within the J28 area of the M1 in so little as 12 months, the company has revealed.
The strong commercial property market around J28, underpinned by the latent occupier demand for logistics and industrial warehouses in the area, has seen CPP complete a number of property deals including the £24m property deal in which Oxenwood Real Estate purchased two industrial properties totalling over 500,000 sq ft.
Further investment success in the area includes the £16.1m deal at Gateway 28 which saw CPP secure the acquisition of a 265,000 sq ft warehouse let to Eurocell Profiles Limited on behalf of MPF.
In addition to the investment activity, CPP has assisted clients Richardsons and Thorngrove Land to actively asset manage the former Englender Business & Distribution Centre in South Normanton to pave the way for a speculative development known as Nickel28. The 261,000 sq ft ‘Grade A’ distribution warehouse, within one mile of junction 28 of the M1, is being very well received by the market ahead of its completion date in September 2018.
Sean Bremner, Partner at CPP’s Midland’s office, commented: “Junction 28 of the M1 remains a major centre for logistics and manufacturing, and is within easy reach of key transport infrastructure that includes numerous major cities within two hours’ drive and one of the UK’s busiest cargo airport, East Midlands, four junctions south. Consistently strong demand for this location reinforces a key fundamental consideration for successful investment.”
Stuart Waite, Partner at CPP’s Midland’s office added: “Numerous businesses have established a presence within the area surrounding junction 28, coupled with a strong demographic for labour supply new occupiers are being attracted to this location. As part of our transactional team representing both landlords and tenants, we are noticing ever increasing interest from companies targeting the area.”
Bremner added: “We are delighted to have hit this impressive milestone, which is a result of our strong work ethic, forward thinking and extensive network of contacts. We look forward to further success within the area.”