Northern Distributor Road (NDR) due to open ahead of schedule
The new Northern Distributor road, the 20km dual carriageway linking the A47 at Postwick, to the east of Norwich, to A1067 Fakenham Road to the north of Norwich is scheduled to open to the public in March 2018, four months ahead of the original opening date.
The NDR has potential to bring over £1 billion of economic benefits to Norfolk, providing jobs and helping businesses in Norwich, Broadland and North Norfolk and making a significant contribution to the national economy.
Speculative development expected to return for first time in a decade
A shortage in the supply of logistics and industrial units in the Norwich area has seen the prospect of speculative development return for the first time in more than a decade.
At the Browick Interchange which is situated ajacent to the A11 to the south of Norwich, plans have been drawn up for five new units totalling 60,000 sq ft in order to overcome the lack of supply.
Two of the units are to be in the 20,000-25,000 sq ft size range, an area where particular shortages exist. The site has potential to deliver a total of 260,000 sq ft of space.
Mixed use scheme planned for Postwick junction of new ring road
A joint venture between Ifield Estates and Pigeon Investment Management, has outline planning permission to provide 678,000 sq ft at their Broadland Gate scheme at the Postwick junction with the new Northern Distributor Road.
The scheme has already attracted attention from businesses with 6 acres under offer for the construction of a car showroom.
A Trade Park is also proposed, in addition to the 450,000 sq ft of logistics/industrial space.
Port of Felixstowe hosts the world’s largest container ship
The world’s largest container ship, OOCL Hong Kong, docked at the Port of Felixstowe on her maiden voyage in June 2017.
The ship, which can carry more than 21,000 20ft containers, docked at the boxports newest quays, Berths 8 & 9, which have been extended to accommodate the future generation of container vessels.
Port of Felixstowe Logistics Park offers opportunities for 1.8m sq ft of build to suit warehousing, with plots to be ready for construction in q1 2018.
Take up in Norwich falls below trend levels in h1 after a strong 2016, with activity of 88,900 sq ft
Secondary rents continue to rise due to shortages of grade A stock
31.3% Increase in Norwich secondary rents since end 2014
Increase in Norwich secondary rents since end 2014
Demand for mid to large sized (30,000 -50,000 sq ft) units increases, with only one unit on the market
Supply in Norwich is focused in second hand stock, with no ‘ready to occupy’ grade A space on the market
Reduction in Norwich industrial supply since mid 2013