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BREXIT: Demand for sheds remains strong

BREXIT: Demand for sheds remains strong

There is still strong demand for the right shed in the right place, despite the Brexit vote, say the developers behind a speculative Manchester warehouse.

Cheshire-based Total Developments has completed the unconditional freehold acquisition of a 2.8-acre industrial development site on Wardley Industrial Estate in Manchester ahead of a 52,665 sq ft speculative development.

The decision underlines continued demand for smaller warehouses.

The building will have six dock levellers and a 55m-wide self-contained yard. If planning permissions is granted work on site will begin later this year.

Ed Chantler, Director at Total Developments, said: “We are going to progress with this development despite the recent news of Brexit as we are still seeing strong tenant demand for good locations.”
John Atherton, director at property consultant Savills, joint agents for the scheme with Davies Harrison, said: “The site will bring new development to a market already constrained by a lack of good quality buildings.”

The site was bought through AXA Investment Managers for an undisclosed sum. Davies Harrison acted on behalf of AXA Investment Managers.

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