Pooks Commercial Property Consultants of Shrewsbury report an active year in Shropshire's Industrial property sector with new developments on the horizon and various schemes completed.

In the Battlefield area of Shrewsbury PXP West Midlands have recently released the land for the Shropshire Food Enterprise Park. The Park will provide approximately 17.4 acres (7 hectares) specifically set aside for food/drink sector manufacturing or distribution uses and PXP West Midlands will be speculatively building about 3,700 sq m of new workspace for occupation late 2008. Rents and prices have yet to be confirmed, but these are likely to be in the order of £50/sq m (rental) and £700/sq m (sale).

Units here will be available from around 230 sq m (2500 sq ft) and will have excellent access to the A5, A49 and M54 making them ideal for distribution. Land is also available at this site for design and build opportunities which is still an appealing option to many potential occupiers.

Also in the Battlefield area various other industrial developments have been completed, with demand for individual units being favoured on a sale rather than rental basis.

Elsewhere in Shropshire Pooks have been involved with a range of industrial/commercial developments including Burnside Business Park at Market Drayton [photo], where the last 2 units of 240sq m (2,583 sq ft) are available to lease at £12,250 pa. Other occupiers on this popular development include agricultural suppliers, tyre depot, veterinary practice, etc.

In Wem at the Business Park and at Aston Road, Pooks have arranged a number of lettings to mainly local companies at rents from £40/sq m (£3.50/sq ft).

At Oswestry there appears to be a shortage of space, with very few units available at Mile Oak Industrial Estate. Typically, Pooks arranged the letting of the former Cleaning Services Depot at Mile Oak which totalled 537 sq m (5,786 sq ft) with an asking rent of £23,000 pa.

At Craven Arms Sherpa Developments have completed the first four units on their Craven Court development, with Unit 2 totalling 222.6 sq m (2,396 sq ft) [photo] currently for sale through Pooks at a price of £165,000.

Telford continues to dominate the county's industrial and distribution sector particularly with the larger warehouse buildings centered on the Stafford Park and Hortonwood Industrial Estates. In the smaller sizes, typical rents are at around £45/sq m (£4 per sq ft) and sale prices, dependent upon specification, from £500/sq m (£45/sq ft).

Looking to 2008 in general economic terms the feedback seems mixed. An evidently slow residential property market and poor consumer spending are tell-tale signals of a slower economy for the forthcoming year but there are conflicting signals such as the prospect of an interest rate cut and record number of shoppers hitting the streets for the December/January sales. On balance, the outlook could therefore be one of a cautious commercial property market with perhaps modest growth.

Credit to James Adney, Surveyor
Pooks
26 Claremont Hill, Shrewsbury, SY1 1RE
01743 276633
Email: ja@pooks.co.uk