City surveyor lands vast industrial estates deal; COMMERCIAL PROPERTY.
CHARTERED surveyors Johnson Fellows has been appointed by property company Industrious to manage lettings across the majority of its industrial estates in the Midlands.
The Birmingham-based firm will manage nine key sites including: Albion Industrial Estate, West Bromwich; Summit Crescent Industrial Estate, Smethwick; Windsor Industrial Estate, Aston; Kings Road Industrial Estate, Tyseley; Griffin Business Park, Solihull, and Dunton Industrial Estate in Nechells.
Johnson Fellows' initial task is to secure tenants for 20 vacant units across the portfolio, which range in size from 2,500 sq ft to 130,000 sq ft.
Mike Price, partner at Johnson Fellows and head of the industrial team, said: "The Industrious instruction is a great coup for Johnson Fellows. It is the largest instruction for the industrial department since it was set up 18 months ago and indicates the faith our clients have in the service we provide.
"Our initial aim is to find tenants for the 232,000 sq ft of vacant space across the various estates.
"Industrious has a hands-on management style that tenants appear to relish.
"This ability to react quickly to occupiers' needs and the speed in which leases can be issued and completed will, no doubt, assist in securing tenants for the available space. "In general, the estates attract businesses that serve the local area or supply West Midlands-based manufacturers.
"In particular, I would anticipate demand from automotive-related companies as well as SMEs from the logistics and distribution sector as many of the sites provide easy access to the motorway network."
Richard Phillips, asset manager at Prestbury Investments, said: "Johnson Fellows has a sound knowledge of the Midlands industrial market and react quickly and creatively to occupiers' needs. We believe that this ethos matches the Industrious model in providing excellent service to our customers."
Since being instructed, Johnson Fellows has already secured a letting at Kings Road Industrial Estate in Tyseley. Neely Transport - warehousing, distribution and transport specialists - has signed a three-year lease for an 11,340 sq ft warehouse unit.
The company, which already has a depot in Stechford, has taken on more space in the Birmingham area to service its new contract with a bottled sauce manufacturer to supply one of the big four supermarket chains. The building will store products and give the company more capacity for transit freight in its existing facility.
Industrious comprises approximately 1,250 industrial units and warehouses on 80 estates across the UK. The portfolio comprises more than 7 million sq ft in units ranging from 500 sq ft to over 100,000 sq ft.
Clive Neely of Neely Transport with Mike Price of Johnson Fellows and Richard Phillips of Prestbury Investments
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|Publication:||The Birmingham Post (England)|
|Date:||Oct 31, 2013|
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