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CPP lets speculative build at Ashroyd Business Park
Commercial property lettings experts Commercial Property Partners (CPP) has completed a significant letting at the Ashroyd Business Park at Barnsley, South Yorkshire.
CPP has agreed a letting at Ashroyd 52, a 52,871 sq. ft speculative new build, on behalf of commercial real estate specialists, 4th Industrial.
The self-contained unit offers a glazed feature entrance, 2,551 sq. ft of first floor office space, secure gated yard, separate parking facilities, two loading doors, as well as a further three dock leveller loading doors. Its BREEAM rating is Very Good along with an EPC ‘A’ Rating. The new tenants will also enjoy superfast-broadband and mains gas connectivity.
Ed Norris, Director at CPP, comments: “We’re delighted to conclude this letting at Ashroyd 52, which reflects both the quality of space and the strength in the commercial industrial market across the region and along the M1 corridor.
“South Yorkshire is in strong demand at the moment, particularly Grade A industrial units over 50,000 sq. ft, which are in very short supply and therefore not staying vacant for long.”
Gareth Jones of Jones Granville, acting for their client commented ‘The unit presented a quality opportunity in a great location, which fitted my clients brief. We were pleased to conclude the negotiations given the lack of availability across the region and the quality of the building.’
Faye Fleming, Asset Manager at 4th Industrial added: “We are very pleased to agree this significant letting after recently acquiring the estate. The time taken to find a quality tenant at the location is testament to our agents CPP and Savills.
“The remaining units all have strong interest, and we hope to have more announcements in the near future.”
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Booster for business investment needed to sustain the recovery & unleash UK’s potential – CBI economic forecast
- Household spending is set to increase by 7.6% in 2022 and 3.1% in 2023 as real incomes recover, and employment growth strengthens
- Recovery in the labour market continues with early data indicating only a minimal impact on jobless numbers following the end of the Job Retention Scheme.
- The CBI expect a relatively short-lived rise in jobless numbers at the end of this year, after which unemployment falls back steadily, ending the CBI’s forecast (3.8%) at its pre-COVID level.
- However, CPI inflation is expected to pick up further ahead, peaking at over 5.2% in April 2022 – driven by a combination of base effects from 2020, rises in Ofgem’s energy price cap, higher fuel prices and supply chain pressures. This will hit living standards, with real wages set to fall year-on-year for much of 2022.
- Business investment continues to recover over the coming year, rising briefly above its pre-pandemic level by 2022. However, it then falls from mid-2023 and ends the CBI’s forecast 3% below its pre-COVID level at the end of that year
- At the end of 2023, the CBI expect GDP to still be 3% below its pre-COVID trend.
- Poor productivity persists over the CBI’s forecast: despite the recovery over the next few years, output per worker remains 17% below its pre-2008 trend at the end of 2023
- With the recovery in UK exports lacklustre in the CBI’s forecast, and imports growth kicking off on a stronger footing, the CBI do not expect any support to GDP from net trade.
- The CBI expect global GDP growth (in purchasing power parity terms) at 5.7% in 2021, 4.7% in 2022 and 3.8% in 2023. Most of the economies that the CBI forecast are set to surpass their pre-pandemic levels of GDP at the end of 2022.
- But the global recovery is also likely to be very skewed, with emerging economies lagging behind, due to slower vaccine rollouts and limited space for policy support.