NG’s Helping to Keep it Local
7th November 2011
Warehouse and industrial space across the East Midlands is drying up. But when it comes to creating space for SMEs, it’s important to keep talent local, says Sunny Landa.
In prime locations like the East Midlands, the best industrial and warehouse space is being snapped up – and leaves expanding firms wondering where they can go next.
It’s apparent that East Midlands companies with growth plans looking for warehousing or larger premises are now beginning to experience a very limited choice of build stock. If they don’t act quickly enough to secure a new site, they lose out.
While SMEs across Nottinghamshire and Derbyshire have plans for expansion, they may find that they simply can’t grow – because there isn’t the space available. NG’s Sunny Landa says: “I am concerned that our local companies will look further afield for new industrial space taking their talent – and their employment opportunities – with them.”
However, it’s not all bad news. Sunny says there are still schemes across the East Midlands which offer occupiers flexibility – and the comfort that they can move on within the park when they expand.
Sunny has been actively marketing Moorgreen Industrial Park in Eastwood where, in the last few months, Maplebeck Holdings has built speculative nursery units to attract SMEs. Called the Sycamore Pods, these are nine new industrial units, eight being 1000 sq ft and the ninth being 1,500 sq ft.
Already two of the units have been snapped up by Leisure Lites Ltd and First For Extraction Ltd, and a further two are under offer.
“There have been a number of deals over the last few weeks,” says Sunny. “Maplebeck Holdings is a company which has risen to the challenge of creating more space in Moorgreen. Its speculatively built nursery units on site are being snapped up by a number of small local companies which is boosting talent – and creating local jobs.”
Thanks to increased activity and a number of key deals, Sunny has transformed occupancy levels at Moorgreen to almost 80% – with that figure set to rise through the remainder of 2011.
With Eon already a tenant and Western Power having just taken 20,000 sq ft on a three-year lease, Moorgreen is attracting a wide range of occupiers – from small, family-run businesses, to larger corporates. The combination is working well.
The 200,000 sq ft park boasts 35 units all together with units ranging from 1,000 sq ft to 4,500 sq ft. Schemes like Moorgreen are becoming more critical in the current climate – especially for its flexibility and range of space available.
Sunny said: “Burgeoning businesses have an industrial park where they know they will be able to trade up or downsize. It’s encouraging to see the market moving from the SME end of the market. Companies with a good track record are now able to secure bank funding which bodes well for our remaining units at Moorgreen, and for the market and the economy as a whole.
“Small, private enterprises are moving onto the industrial park – and are providing local employment which is crucial for the local economy.
“Last year, due to difficult trading conditions, a number of our occupiers were unable to continue trading so we were faced with a high void rate at the start of 2011.
“With the creation of nursery unites and imaginative marketing, the park has really turned around.
“The recent lettings at Oak House and The Pods, together with the addition of Western Power, fit well with existing tenants on the site, all relocating to the park to significantly higher quality accommodation. I am hopeful that the level of activity continues as we are targeting for 100% occupancy.’