Melburg completes 150,000 sq ft industrial lettings
Melburg Capital Ltd [Melburg] – the privately-owned real estate investment and development company – announces the completion of a series of national lettings across its UK logistics portfolio totalling in excess of 150,000 sq ft. All deals were transacted within the last 3 months during the UK’s restrictive Lockdown period.
The lettings were at Swan Lane Industrial Estate, Wigan, to domestic appliance producer G2S; and Edmonton Industrial Park, North London, to multiple tenants – whilst Melburg also confirmed 100% of rent was collected across its industrial portfolio throughout 2020.
G2S took the last available unit at the recently re-branded Swan Lane Industrial Estate, completing at a rent in excess of £4.00 psf. Despite the challenging economic conditions G2S continues its North West growth strategy whilst reporting record sales.
Olam Foods, B Star Trading and Clintopia took space within the newly refurbished Edmonton Industrial Park, highlighting strong occupier demand for strategically located high quality Greater London urban logistics space. These lettings reduce the estate’s vacancy rate from 50% to just 16%.
A spokesperson for Melburg commented; “Depth of demand, limited availability and a constrained development pipeline continue to propel the UK industrial occupational market. The recent pandemic has applied further pressure on the logistics and fulfilment network as it tries to satisfy demand from businesses pivoting to e-channels in order to survive.
“On average online spend as a percentage of total consumer spend increases from 20% to 42% during the Christmas period. 2020 will set a historical record, accelerating consumer habits, increasing logistics reliance and creating further headwinds for the ailing High Street”
View Property Week article here.