Privately owned real estate company, Melburg Capital Ltd, said it managed to complete a total of 150,000 square foot of lettings across its UK logistics portfolio in the last three months.
The company said the lettings were at its Swan Lane Industrial Estate site in Wigan, to domestic appliance manufacturer G2S. The other lettings site was at Edmonton Industrial Park in North London, which was rented to out multiple tenants. The company added that rent was collected across 100% of its industrial portfolio through 2020.
Melburg said that G2S took the last available unit at the recently re-branded Swan Lane Industrial Estate, and has now completed rent in excess of £4,000 per square foot. Similarly, it added that despite the challenging economic environment, G2S reported record sales and continues its North West growth strategy.
In its Edmonton Industrial Park site, Olam Foods, B Star Trading and Clintopia have all taken up space, which Melburg said highlights strong occupier demand for strategically located sites
Olam Foods, B Star Trading and Clintopia took space within the newly refurbished Edmonton Industrial Park project, highlighting strong occupier demand for strategically located high quality sites in Greater London urban logistics space. These lettings reduce the estate’s vacancy rate from 50% to just 16%.
Speaking on the company’s performance, a spokesperson commented: “Depth of demand, limited availability and a constrained development pipeline continue to propel the UK industrial occupational market. The recent pandemic has applied further pressure on the logistics and fulfilment network as it tries to satisfy demand from businesses pivoting to e-channels in order to survive.”
“On average online spend as a percentage of total consumer spend increases from 20% to 42% during the Christmas period. 2020 will set a historical record, accelerating consumer habits, increasing logistics reliance and creating further headwinds for the ailing High Street”.
