Investors are refurbishing a 190,000 sq ft warehouse as the North West’s logistics property supply crisis deepens.
The Talke 16 unit at junction 16 of the M6 motorway at Kidsgrove is being refurbished by Edinburgh-based private investors Parabola.
Parabola is investing in a major refurbishment of the property over the next four months, including new cladding on the elevations and the roof, upgraded lighting, as well as some selective demolition and reconstruction to ensure the property’s height is uniform throughout.
Rob Taylor, head of Knight Frank’s North West logistics team, and an advisor to the landlord, said: “This is a prime distribution location, which is already attracting interest from several potential occupiers. The investment in the building will make it one of the biggest and best sheds available in the region, in particular along the M6 corridor.
“Despite the growing number of design and build opportunities, and the imminent prospect of speculative development, there is still not enough Grade A stock to meet occupiers’ requirements. As a result, landlords that are willing to invest in second-hand sheds in prime locations such as this can help to meet the strong occupier demand, particularly for units above 100,000 sq ft across the North West.”
Caisson Property is also advising. Moriarty & Company is the joint agent.