Urban Logistics REIT and Wilson Bowden Developments have begun construction on a new speculative warehouse/distribution unit in Leicester that will be available by the end of April 2022.
The property sits directly off the A46 and Junction 21 of the M1 motorway.
The Grade A warehouse will offer 43,850ft² with 12 metre eaves and both dock and level access doors. The site will offer a self-contained securely fenced and gated service yard and car parking area.
Tim Gilbertson, director of FHP Property Consultants, said: “Leicester and its environs is a terrifically strong market and this new build unit of over 40,000ft² should go extremely well given the strength of demand in the marketplace and the number of enquiries we continue to receive.
“Credit to our clients here for ‘grasping the nettle’ and pressing on with speculative construction. I am very confident that we can have this building with a deal agreed in the coming months ready for an occupier to move into from practical completion in spring 2022.”
Toby Wilson of Urban Logistics REIT added: “Leicester continues to experience robust demand with limited new build Grade A options. This is a well located high specification unit with excellent sustainability credentials and a good surrounding labour supply, situated in an established and successful warehouse location offering easy access to both the A46 and M1.
“The lack of stock in the area for sub-50,000ft² buildings is generating good levels of initial interest pre-completion in April of this year.”
John Barker of Urban Logistics REIT said: “Leicester is a fantastic market which like most Midlands locations benefits from great road links and a market which is hugely under supplied in terms of available stock with demand continuing unabated.
“The building will be ready for occupation by the end of April this year and we do hope that the initial strong interest generated by our agents will see a deal completed well before completion of the building.”
