Leading Bradford agents, Walker Singleton, are pleased to confirm 2 further lettings on the Euroway Trading Estate on the M606 motorway totalling over 55,000sq.ft. of space.
21 Commondale Way comprises a warehouse unit with large yard of 45,000sq.ft. and was let to John Cotton Group off an asking rent of £180,000 per annum as expansion for their current Bradford and Mirfield operations.
5a Commondale Way comprised a detached unit with yard of just over 10,000sq.ft. and was let to Paintshop Northern off an asking rent of £45,000 per annum.
The letting of these units adds to the 4 units where deals were agreed by Walker Singleton over the past 12 months on the same road. Jonathan O’Connor, Associate, comments ‘Over the past 12 months we have now achieved lettings on over 90,000sq.ft. of space on this single road on the Euroway Estate off combined rentals of nearly £400,000 per annum’, he adds ‘the quantity and quality of the lettings further demonstrates the strong demand in the industrial sectors particularly in motorway locations’
O’Connor adds ‘We have previously reported on the high demand in the industrial markets and this is continuing apace with many occupiers now struggling to find the right size or type of accommodation in the market. This under supply is leading to deals hardening and rental levels slowly creeping upwards. There are also signs of speculative development being planned which will ease the current situation but significant amounts of accommodation will undoubtedly be required in the coming years. Walker Singleton acts for numerous investor and developer clients as well as individual landlords who are experiencing unprecedented levels of occupancy rates within this sector and many are once again looking to invest and build within the Bradford region fuelled by the prospects for a strong rental return.’