The Essex Agency team of national commercial property firm, Lambert Smith Hampton (LSH), has been appointed alongside SBH Page & Read by fund manager, Rockspring, to market a 57,329 sq ft industrial scheme in Basildon, Essex.
With an acute shortage of grade A industrial space across the UK, 1 Watkins Close on Burnt Mill Industrial Estate is being launched to industrial and warehouse occupiers looking to expand and upgrade their business premises. The large, modern unit set on a 3.24 acre site fills a current market void, and is being offered on leasehold and freehold terms.
Daniel Harness, Senior Surveyor in LSH’s Essex team based in Chelmsford, commented: “Within the main industrial estates of Basildon and its environs, there is currently more than 430,000 sq ft of available warehouse/industrial space in the 15-45,000 sq ft size range. However, the unit on Burnt Mill Industrial Estate is the only available premises between 50-100,000 sq ft. As a result, we are anticipating a lot of interest from large industrial occupiers seeking to relocate to or within the area.”
Daniel continued: “In the East of England more broadly, our latest Industrial & Logistics research has found current availability levels to be the lowest in the UK. In Essex, the supply of space is no less of a challenge for occupiers – with 5.7% of total stock currently on the market. The launch of this scheme is therefore significant news for Basildon and the wider county, as it seeks to attract a large occupier to the town.”
