Partner Article

Trade Parks

~~TRADE PARKS

Trade Parks continue to play an important part in the industrial sector across the region through their specialist product supply role says Mark Proudlock, partner, industrial agency, Knight Frank.

By definition Trade Parks are industrial developments where there is an element of retail activity. Previously these were better known as trading estates or trade counters which literally had the function of supply, often of building products. They are increasingly successful.

Typically Knight Frank advises La Salle Investment Managers on its 145,000 sq ft Brough Park Trading Estate at Fossway, Byker, where units range from 4,950 sq ft to 16,387 sq ft and and occupiers include Howdens, Dulux Decorator Centre, Unipart Automotive and Andrew Page.

Also north of the Tyne is UK Land Estates’ Tyne Tunnel Trade Park. This 47,240 sq ft development is fully let with tenants including Screwfix Direct, Plumb Center and YESSS Electrical.

South of the river Tyne, acting on behalf of Cross House Buildings, Knight Frank has recently let a 6,067 sq ft unit to Screwfix at the Stadium Trade Park on Neilson Road, Gateshead. Other tenants in the block include Howdens and Hilti.

Also south of the Tyne is UK Land Estates’ Blaydon Trade Park which is a popular trade counter business park ideally located with immediate access to the A1 from the busy Chainbridge Road. Tenants include Radiator Worx, Pro Fix, M&S Supplies, Rixonway Kitchens and Up North Cooling. Presently there are units available from 3,488 sq ft up to 4,650 sq ft.

All these trade park locations demonstrate the importance of ‘location’, highly visible and proximity to a densely populated area with access to a good road system.

With regards to planning, trade counter uses generally fall into Class B8 and depending upon the local authority area they will permit between 20 – 25% of the floor area to be specifically designated for sales/showroom.

In terms of rentals, typical rents for modern trade parks are around £6-6.50 per sq ft though in prime locations such as Team Valley rents can achieve up to £10 per sq ft.

ends

This was posted in Bdaily's Members' News section by Knight Frank .