In 2016 Naylors disposed of over 1.1 million sq ft of industrial space including the sale of the former Dewhirst premises in Blyth to Tharsus Group (101,000 sq.ft) and three properties at Bede Industrial Estate in Jarrow, totalling 271,500 sq.ft, which were sold to a fashion retailer.
Naylors has been named the region’s ‘Most Active Agent’ of 2016 in the industrial market in a recent deals competition.
The competition is run by online property magazine, EGi, part of the Estates Gazette media group, and the results are based on transaction volumes across all commercial property sectors.
Keith Stewart, director in industrial agency at Naylors said: “This is the fifth time Naylors has taken the crown of most active industrial agent in the North East, which is a fantastic achievement for the team. In 2016 the levels of demand for industrial accommodation fell due to a general sense of caution before and after the EU referendum. However, we were still very active, particularly in the sub 10,000 sq.ft market and we also brokered deals on several properties over 100,000 sq.ft.’
Naylors also acted for Impala Terminals to surrender their lease on the 148,000 sq.ft Cornings Warehouse in Sunderland after it became surplus to requirements.
Chris Donabie, director of industrial and investment agency at Naylors added: “We are now finding that demand levels are picking up with some occupiers feeling that the EU referendum result has had less impact than originally feared. Warehouse and distribution remains a strong market with parcel delivery in particular seeing continued occupier demand, helped by the ever growing e-commerce sector. We are experiencing strong demand for buildings of between 15,000 sq.ft and 50,000 sq.ft.
Beyond that size and into the ‘big shed’ market there is still very little available by way of modern, well-located units along the strategic road networks. We expect to see greater design and build activity as well as selective speculative development activity over the course of this year.”