Since the start of the pandemic the industrial market has consistently outperformed other commercial property sectors, both in Dorset and throughout the UK, buoyed by the effects of Brexit on UK supply chains and the pandemic on online retail.
Certain sectors experienced record sales during the pandemic which has increased their industrial requirements to meet consumer demand – from online retailers to household improvement companies. We have seen this translate into a flurry of industrial property deals in recent months.
Since the merger with Cowling & West six months ago, Vail Williams has acted on over 165,000 sq ft of industrial property transactions across the Dorset region, including the recent letting of a 40,000 sq ft industrial unit in Poole to cosmetics retailer Lush.
Interest from owner occupiers and investors in smaller freehold industrial properties has also gone up significantly across the region, as we’ve seen with the recent sale of seven brand new industrial units at Hoburne Enterprise Park, Ringwood, where we acted for Hoburne Development.
Indeed, such is the level of industrial property demand, that the price to acquire premises and their associated rental yields, have increased in the past 12 months.
This was the case recently, when we sold a 3,820 sq ft industrial investment on the Ferndown Industrial Estate for full quoting price, at just under half a million pounds, in an off-market deal.
With the delivery of over 200,000 sq ft of much-needed industrial supply in the pipeline, the developers of Bedrock Park, Ferndown Industrial Estate, Westcroft Business Park and Three Legged Cross, are responding to occupier demand, bringing crucial, high-quality industrial space to the market in the six to nine months.
To discuss your industrial needs as an occupier or for help with delivery of an industrial scheme, contact commercial property experts, Vail Williams.
Bryony Solan, Associate, specialist in industrial property.
T: 01202 558 262 | E: bsolan@vailwilliams.com | www.vailwilliams.com
This article is featured in the September edition of the Dorset Business Focus magazine. Read on the online version here.