Posted by admin | Posted in Build a Shed | Posted on 09-05-2011
Tags: tuff shed corporate office, tuff shed office
Spec-cast could return to Midlands
(Cummins Engine Company Inc. goes to the rental office)
Spec-cast could return Midlands
Gerald Eve believes speculative development could shed back to the central region over the next year of 500,000 square meters of leases in recent weeks.
Cummins Engine Company has taken a 126.000 square feet covered in Daventry Northamptonshire Tannen Exchange Group.
The engine manufacturer has an existing local in the near Sopwith Way, Daventry, but the company has had a lease for five years in exchange and paying [Pounds sterling] 1.11 per square foot in the first year and [pounds] 1.58 per square foot in the second year.
Gerald Eve advised Cummins; BurbageRealty and Budworth Hardcastle represented Tannen.
Meanwhile, Gerald Eve also advised on the largest Black Country according shed of the year, with Laing O'Rourke taking 130,000 square meters at Trinity Point, Oldbury Minton Group.
The building contractor had a lease for three years with a break 18 months.
The rental terms were not disclosed, but understood well below the [pounds] 3.50 quoting rent.
Laing O'Rourke took the entire building to house its modular design construction services arm of Crown House Technologies and several of its other subsidiaries.
Colliers and King Sturge advised Minton Group.
Richard Ludlow agency's industrial partner in Gerald Eve said: "This is a new absorbing material in the region Central is the heart of logistics.
"These agreements have come hard on the heels of two other offers 100,000 square meters in customer Aldridge individuals and 140,000 square feet in Tamworth at Legal & General.
"If this trend continues could again provide for the return of speculative houses developed in the next 12-18 months. "
Nick.whitten @ estatesgazette.com
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