Sheffield’s industrial property market is showing positive signs of recovery, according to BNP Paribas Real Estate and property investor Industrious.
Industrious owns 1,000 industrial units across the UK, including 75 in Sheffield which provide a total of 120,000 sq ft and are 98 per cent let.
“Movement from new start-up companies and SMEs is now fuelling the market and we are now seeing rental growth,” says Stuart Waite, from property consultants BNP Paribas Real Estate.
“The economic view is also looking positive and the strength of manufacturing sector, as well as the economy as a whole, continues to benefit the local market.”
Industrious asset manager Luke Fisher said: “The market is showing movement in the right direction, which is manifesting itself into rental activity.
“We have found that if a landlord is able to meet the requirements of start-ups and growing businesses – namely affordable rents, a quick leasing process and flexibility - then companies are showing confidence by securing suitable space to help take their businesses forward.”
Industrious has four estates in Sheffield, all in the Don Valley and providing light industrial, workshop, trade and storage space for local, regional and national operators from various sectors.