Tuesday, August 10, 2010

News: World's largest real estate firm lands in Sheffield


Following the acquisition of industrial agency experts M3 Agency LLP in May, CB Richard Ellis, the world's leading property adviser, has launched its newly branded Sheffield office which, with the largest market share in the region, is set to capitalise on the recovering market.

CBRE's new Sheffield office is headed up by industry experts Toby Vernon and Roger Haworth who work in conjunction with colleagues from CBRE's Leeds office on instructions covering the whole Yorkshire region in addition to the North Midlands and the North East.

Commercial property instructions in Rotherham include 152,000 sq ft of space at Magna 34 in Templeborough and 50 acres at The Advanced Manufacturing Park (AMP).

The addition of a dedicated industrial specialist within the capital markets team boosts CBRE's already strong regional investment market presence.

Roger Haworth, Senior Director, CBRE Sheffield, said: "As we move into the third quarter of 2010, we are witnessing positive signs of recovery within the regional industrial and logistics market with 1.3m sq ft of take-up in the last month alone from deals such as ASOS at Crossflow, Barnsley who have taken a 530,000 sq ft distribution centre, MTL Group at J34 in Rotherham and Amazon who have signed up on 415,000 sq ft in Doncaster.

"This signals a positive start in terms of an upturn in the market as enquiry levels are currently good for the larger available stock. The lack of new space coming to the market will increase competition for existing stock resulting in improved rental values and the eventual return of new development within the region."

Toby Vernon, Senior Director, CBRE Sheffield, added: "Due to the combined strength of CBRE's Yorkshire industrial capabilities we are well positioned to identify opportunities for clients to capitalise on the recovering market.

"Our strategy moving forward is to continue to provide market leading advice to our broad client base which covers all spectrums of the industrial sector from small scale developments to large distribution facilities.

"We will be working with a number of key clients to identify new development opportunities to cater for the next phase of pre-let/pre-sale led business."

CBRE website


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