The growth of the Humber ports is helping to drive two speculative warehouse developments in the North East and East Midlands.
HelioSlough this week secured funding from British Airways Pension Fund for a £50m speculative warehouse scheme near Middlesborough, and private developer Walkers said it would start work on a 305,000 sq ft shed in Nottinghamshire.
Both schemes are within reach of the Humber ports, which had 84m tons of cargo going through them in 2005. More trade is expected once a new container terminal is built at Hull.
HelioSlough the £150m joint venture between Helios Properties and Slough Estates has already started on its 700,000 sq ft scheme at the former Samsung site at Wynyard.
Director Mike Hughes said: “It will benefit from the growth of the ports, and problems with labour and land supply in the distribution heartlands.”
M3 acted for the BA fund and will be agent alongside C2G Consulting and King Sturge.
References: EGi News 16/01/06
