A 102,515 ft2 industrial and distribution facility in 200 acres of Markham Vale has been brought to market by joint agents Knight Frank and CPP but is not expected to last long.
The unit, which is partially shelved with an in situ multi-storey mezzanine, is just off the M1 motorway at junction 29a. It has 98,222 ft2 of warehouse space and 4,100 ft2 of office space.
Rebecca Schofield, partner at Knight Frank and leader of the Yorkshire industry team, said: “Given the lack of units of this size in the region, we expect a lot of interest.”
Availability of units over 50,000ft2 in South Yorkshire and the NE Derbyshire region has fallen by 12% on an annual basis to stand at 1.2 million ft2 (units over 50,000ft2) at the end of September 2022. As a result, the vacancy rate for the region fell to 2.1% from 2.5% in the third quarter of 2021.
Stuart Waite, Director in CPP’s Nottingham office, added: “The housing market continues to perform well, with robust tenant demand offset by a very limited supply of quality modern stock. We are already seeing a lot of interest in the building given its strong fundamentals.”