Barberry are proud to have brought home the Deal of the Year – Under 50,000 sq. ft. award from the Industrial Agents Society Awards yesterday. The award was given for the development and letting of a 47,973 sq. ft high quality detached mid box logistics and manufacturing unit as part of our wider Wolf Pack development.
The letting demonstrated demand from occupiers who needed accommodation to expand to within this location and provided Metelec a speculatively built unit with enhanced specification to allow them to strive forward and meet their businesses ESG targets while expanding their business and creating new jobs for the region.
The letting of Unit 2 significantly outperformed our business plan, the original rent forecasted was £6.50 per sq. ft and a lease term certain of 10 years and we achieved £8 per sq. ft and a lease term certain of 25 years significantly enhancing the value of this asset which reflects a 23% increase in rent and a 150% increase on lease term certain.
The new buildings are built with sustainability credentials in mind that will benefit the occupiers using them by reducing occupational costs and fulfilling many environmental, social, and corporate governance ratings. The detached high-profile market leading mid box units have been constructed with their own self-contained secure yards. They comprise PV cells covering 10% of the roof with an upgraded roof and steel structure to support further PV cells if required by occupiers or future owners.
We focused on sustainable credentials to benefit both the occupier and the environment. We delivered an enhanced specification, BREEAM Excellent, EPC A rating, with inherent low energy design characteristics considering carbon reduction.
Barberry created the Wolf Pack brand and embarked on a creative marketing campaign and launch, which has been recognised for its pioneering approach.
Well done to all other winners at the IAS Awards.