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Gladman sells 380,000 sq ft Cheshire distribution hub
Dec 3, 2009
Gladman Developments has secured the sale of one of Cheshire’s largest distribution units. The unit, extending to 368,000 sq ft and known as Manor Park 360 was speculatively built by Gladman within Cheshire’s flagship industrial estate, Manor Park, Runcorn. The estate comprises some 200 landscaped acres with occupiers including Lidl, Business Post, Matthew Clark, Fresenius Kabi and Yokogawa. The unit benefits from excellent access to the M56, is only three miles from the nearest port, has two major international airports with 20 miles and is only 13 miles from Garston Rail Freight Terminal.
Gladman sold the building to Scottish Widows Investment Partnership with a simultaneous letting to logistics giant Stobart who committed to a 15 year lease. Scottish Widows now manages property assets valued at £4.45bn and has made an energetic return to the market after a quiet spell.
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Gladman Add to Westhill Success
Gladman Developments have confirmed it has let a further 15,000 sq ft of business park office space at Arnhall Business Park in Aberdeen.
Abermed, Annixter, Kongsberg Maritime and RigNet have all agreed leases at Abercrombie Court in Westhill of between 5 to 15 years for units ranging from 2,200-5,250 sq ft. Rents achieved were between £17.50 and £18.50 per sq ft.
Abercrombie Court in Aberdeen is proving a top draw
Gladman Developments’ Abercrombie Court in Aberdeen is proving a top draw with a multitude of investment sales and lettings confirmed in the last three months.
The surge in demand has encouraged Gladman to begin the second phase of construction, which will comprise a further 52,600 sq ft and offer units ranging from 1000-5000 sq ft.
Business property market conditions "better"
Britons looking to open a business property may find the current conditions are favourable, an expert has said.
Matthew McEachran, retail analyst at Singer Capital Markets, stated new commercial property owners could see the situation as "better from the perspective of cost and tax incentives".
This is particularly true following measures announced in the emergency Budget, as start-up businesses could benefit from the incentives, he continued.
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