Bidwells’ Logistics and Industrial agency team has topped a prestigious property industry league table by transacting 767,360 sq ft of industrial space in the second half of 2017.
The leading property consultancy transacted more space than any other agent in the East of England - almost a third (32%) of the 2,630,903 sq ft total of industrial floor space let or sold in the period.
The Bidwells total is 366,930 sq ft more than the second-placed consultancy.
The respected property title, EG, formerly known as Estates Gazette, collected data for all industrial deals undertaken between June 1 and the end of 2017 before ranking the top ten. The figures included only disposals, excluding investment sales, re-gears and lease renewals. Read their story here.
It’s the 6th time the team has topped EG’s East of England league table for take-up.
Patrick Stanton, Partner and Head of the Industrial and Logistics Team at Bidwells, said:
This is a tremendous achievement for the team and the re-awarding of the award is also very pleasing. Our specific and in-depth knowledge across the whole region enables us to provide detailed and accurate advice to our clients allowing them to maximize value in their assets in a favorable market.
We have been involved in four of the largest of transactions of the last 12 months (see below) in locations including Peterborough, Cambridge, Bury St Edmunds and Norwich. Our specialism in the ‘big box’ market across the patch means we are continuously in discussions with landlords, occupiers and developers alike meaning we can react quickly should properties become available or opportunities arise.
Over 80% of Bidwells’ work is concentrated in the ‘Golden Triangle’ of Oxford, Cambridge and London, including sector-leading work in the science & technology, and education sectors.
Bidwells’ industrial market research looks twice yearly at rental values in the Golden Triangle, as well as Norwich, Milton Keynes and the M1 South region. Rents have continued to edge up in most Golden Triangle markets, but the strongest growth was recorded in Cambridge where headline rents reached a new high of £12.50 sq ft, growth of 13.6% in 2017.
Key industrial deals Bidwells acted on include:
- The 275,000 sq ft, CDC Warehouse in Sawston, the largest industrial transaction in East Anglia in the last ten years, achieving a headline rent of over £1,200,000 per annum
- A 250,000 sq ft freehold design and build transaction sold to Smart Garden Products for £18m. Bidwells acted on behalf of Roxhill Developments.
- A 66,000 sq ft pre-let to Vitec Videocom in Bury St Edmunds securing a 15 year lease at a record rent for the town at £9 per square foot.
- An exceptional Cambridge transaction at £16.50 per sq ft was achieved for a 25,000 sq ft unit let to Ridgeons at Coldhams Business Park.
Bidwells latest industrial research can be found here.