PRESS RELEASE
4 April 2017
INDUSTRIAL RENTS OUTPERFORM FORECASTS
Rental increases on industrial property in key locations are outperforming both forecasts and sector wide annual figures, as occupier demand continues to grow, according to Birmingham real estate asset management specialist Tim Matthews.
“Large warehouses close to major transport routes in the Midlands, North West and Yorkshire, are seeing annual rent increases in excess of the industrial sector average for 2016 of 6.5%, underpinned by the strength of occupier demand,” says Mr Matthews who is Chief Executive of Blue Marble Asset Management which buys, sells and manages investment properties for clients and presently has more than £70 million of property assets under management.
“Rental increases are also well ahead of our and our agents’ forecasts of what we could expect. Our recent lease renewals and new leases have consistently beaten these forecasts of between five and 10%, in some instances getting close to 25%, blasting through the expectations of our clients set out in the business plans we prepare for each investment property.
“This is partly a result of the shortage of suitable property, but also due to our acquisition and asset management skills, in recognising the potential rental growth in a particular property and managing it accordingly.
“While acquiring suitable industrial investment properties is getting tougher, it appears that the long talked about growth in the industrial market is finally coming to fruition, as it continues to set the pace in 2017.”
Based in Birmingham’s Colmore Business District, Blue Marble Asset Management is a real estate asset management specialist which presently has more than £70 million of property assets under management. It works for a select range of clients including investment businesses, high net worth individuals, trusts and family offices. Its business is based on taking a holistic view of each of its property investments.
Picture caption: Tim Matthews, Chief Executive of Blue Marble Asset Management.