‘Manufacturing is at a 25-year high’ in region
Left, Ian Hodges, managing director of the Horncastle Groupand Mike Beal, construction director at Hobson and Porter. Inset, Ben Medhurst, director at PPH Commercial
By Hull Daily Mail | Posted: 11 Jun 2018
THE region’s manufacturing industry is at a 25-year high as demand continues to grow for factory and office space in and around Hull.
The past year has seen major projects be completed, including Alumasc Limited’s new 88,000sq ft factory and office facility in Howden, with DHL’s new distribution hub on the same site also in the pipework.
Ben Medhurst, director at PPH Commercial, said the manufacturing and industrial industry is now at a 25-year high, and said the region was “flourishing”.
“The outlook for the industrial market in general is very positive, with demand outstripping supply,” he said.
“These low stock levels are putting positive pressure on rents and capital values, which is good news for investors and landlords.
“On another positive note, occupation levels are also excellent at a number of industrial estates that we represent. The Stoneferry Park, in east Hull, is a perfect example of this, having recently become fully occupied for the first time in a number of years following the letting of an 8,000sq ft unit to of biofuel specialists Andritz.
PPH Commercial admitted it had been surprised by the high levels of interest in the region since the start of this year.
Deals both large and small have been
completed already this year, from smaller factory units up to major bespoke design and build facilities.
The biggest of these was an 88,000sq ft factory and office facility in Howden, as building products specialist Alumasc
Limited moved into its new six-acre home near Goole.
The Horncastle Group has also brought forward a 36,000sq ft unit for DHL at the Ozone Business Park, Howden.
Once the work is completed, the Ozone Business Park will be completely full.
DHL will take a lease on the property, which will serve as a parcel distribution depot for East Yorkshire and surrounding areas.
“The occupation levels we’re experiencing at smaller factory estates are phenomenal and show no signs of abating,” Mr Medhurst said. “This is a significant vote of confidence in this area, with the local economy continuing to flourish."
PPH’s director said he was confident the region’s industrial market would continue to be strong for the rest of 2018.
“There’s never been a better time to invest in industrial accommodation in Hull and the East Riding, with the strength of the city’s industrial and manufacturing industry now at a 25-year high,” he said.
Over at the other side of Hull, The Thurston Group has opened a new six-acre facility in Holderness.
The new factory will produce bespoke modular accommodation for a range of sectors, including education, healthcare, construction and housing.
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