There could be an opportunity for commercial development firms as available manufacturing sites in the north-west become rarer.
A shortage of sizeable warehouses and industrial sites in the north-west could lead to an increase in
commercial development projects.
This is the view of real estate agent Jones Lang LaSalle, which believes it has seen a growth in occupier activity in the area, reducing vacancy levels.
"With the few leasehold and freehold units remaining in this size bracket, this could lead to developers to start contemplating design-build warehouses once again," said Phil Morley, associate director in Jones Lang LaSalle's National and Industrial Logistics team
His comments come after the agent announced it had sold a 13-acre manufacturing site in Manchester to
property investment firm Stirling Lloyd for an undisclosed sum.
The site features offices, laboratories, a canteen, pump house, gate lodge and a number of warehouse buildings totalling approximately 147,000 sq ft.
Last month, Jones Lang LaSalle suggested commercial development companies try refurbishing grade B office buildings to fill the stock shortage of grade A properties.
Posted by Tess Nelson
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