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Burnley continues to forge ahead within East Lancashire with the industrial sector in particular performing extremely well.
By Michael Cavannagh, director, Trevor Dawson.
Rents are now surpassing prerecession levels and there is a particular appetite for freehold property with anything coming to the market selling quickly.
As with other areas Burnley has shown growth in the big shed market which reflects the success of local companies whose reach now expands way beyond Burnley and East Lancashire. Exertis, Fagan & Whalley. Birchalls and Boohoo all have committed to new distribution facilities within the borough.
The prime industrial sites in particular are leading the way. Burnley Bridge Phase I will shortly be fully developed with the imminent completion of the new facility for Fagan & Whalley.
Prior to Christmas planning consent was obtained to extend the Burnley Bridge with Titanium Park now offering further design and build opportunities. Already there is strong interest from local occupiers being reported.
Complementing Burnley Bridge is Vision Park at the edge of Burnley town centre where construction is well under way with the first units being ready for occupation in September of this year.
Offering opportunities at the smaller end of the market companies are already showing interest in the scheme. The initial phase is two buildings. One offering units from 500 sq.ft. for new start up and small businesses with the adjacent unit providing opportunities from 2,500 sq.ft. up to 10,000 sq.ft.
With the success of these schemes it is now important that further opportunities come forward. The borough does have its challenges like elsewhere along the M65, including ensuring a pipeline of future commercial development to attract new businesses and to allow existing operations to grow.0
It is however encouraging to see a local authority being proactive and extensions to Burnley Bridge, Network 65 and Shuttleworth Mead are all in the pipeline within the new local plan. The provision of these new inward investment opportunities will only help Burnley to continue driving the East Lancashire industrial market forward.
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