The increase is intended to reflect the increased cost to the BCC of acquiring land for park and recreational purposes, but the Property Council notes that this figure should be considered in the light of the BCC’s recent Budget documents that identified inflation rates as 2.9 per cent and unimproved valuations across the City as increasing an average of 13.18 per cent.
Find Property Conveyancing has Colin Bunker, Manager Infrastructure Projects and Land Management, Department of State Development, explained the Department’s role in ensuring there was sufficient industrial land to support future economic development and provided specific examples of where the Department had purchased land to guide industrial development in an area.
This letting leaves us with a planned building of 7,250 sq m (78,000 sq ft) to complete the World Business Centre complex and we are now actively marketing this final phase. Existing tenants at World Business Centre 1 and 2 are Regus, SAS, Lufthansa, Emery, World Duty Free and Dream Ticket.com.
Welbeck Land Limited has been granted outline planning consent by Swansea City Council for its 13,935 sq m (150,000 sq ft) bulky goods retail development on Carmarthen Road, Swansea. The £18 million scheme will comprise of one single DIY unit with an adjacent builder’s yard and garden centre.
Neil Johnson of Welbeck says: “We are currently in discussions with a number of major DIY operators and are expecting to achieve a rent circa of £129.17 per sq m (12 per sq ft).
In considering changed rates of take-up of industrial land, Mr. Cumming focused on the importance of the whole package, including the provision and costing of infrastructure.