Sheffield’s industrial property market is showing positive signs of recovery, according to BNP Paribas Real Estate, the leading property adviser, and Industrious, owners of over 1000 industrial units across the UK.
With encouraging signs of economic improvement and market sentiment, emphasised by Industrious’ Sheffield portfolio, which spans four industrial estates, 75 units and approximately 120,000 sq ft, now 98% let, the local market is set to have a strong 2014.
BNP Paribas Real Estate’s Stuart Waite comments: “Movement from new start-up companies and SMEs is now fuelling the market and we are now seeing rental growth. The economic view is also looking positive and the strength of manufacturing sector, as well as the economy as a whole, continues to benefit the local market.”
Luke Fisher, asset manager at Industrious, comments: “The market is showing movement in the right direction, which is manifesting itself into rental activity. We have found that if a landlord is able to meet the requirements of start-ups and growing businesses – namely affordable rents, a quick leasing process and flexibility, then companies are showing confidence by securing suitable space to help take their businesses forward.”
Industrious’ four estates, all located within the Don Valley area of Sheffield, offer functional light industrial, workshop, trade and storage units let to a mixture of local, regional and national operators from various sectors. The estates offer functional business homes for both established and new start-up businesses by simplifying the leasing process and subject to availability offering occupiers the opportunity to expand into larger units in line with business growth.
