Throughout the East Midlands, despite the strengthening demand for industrial and distribution space, there has been little or no speculative construction of note.
FHP clients, PMW Property, are bucking this trend and as our latest photo of the site with our clients shows, work has progressed with groundworks well advanced in anticipation of practical completion of a new build unit of 30,000ft² during Summer this year.
Good levels of interest have already been received and Mike Wrigley at PMW Property commented:
“Whilst many of our competitors are not prepared to speculatively develop space, given the strength of demand we have encountered on similar schemes, we are more than happy to make a statement to show our faith in the market and speculatively develop this superb potential warehouse or industrial unit of 30,000ft².
The building has the terrific advantage of being part of an established estate location which is just off the A38 and within minutes of Junction 28 of the M1 and, once finished, will sit on a securely fenced and gated shared site.
We already have initial expressions of interest but the building has not, as yet, been let or sold. However, our agent Tim Gilbertson FHP will be delighted to hear from any potentially interested parties.”
Tim Gilbertson of FHP is acting on behalf of the developers and commented:
“It remains something of a surprise that no developers within our patch are speculatively constructing as the market remains strong with ongoing demand and very limited supply. PMW should be commended on their approach and I have no doubt that sooner or later one of the initial expressions of interest or potentially a new party encouraged by this note, will agree terms to either buy or rent the building and benefit from what will be a fantastic property in a location as good as there is around the M1 in the East Midlands.”
