Network Rail deal puts Swindon industrial property market on right track for growth

November 19, 2013

Swindon’s rapidly-recovering industrial property market has received a major boost from Network Rail, which has signed a deal to occupy one of the town’s largest vacant warehouses.

The railway infrastructure group, which owns and manages the UK’s rail network, is to use the 150,000 sq ft building on the town’s Groundwell Industrial Estate as part of its electrification work on the Great Western line between London and South Wales.

Swindon property agents Whitmarsh Lockhart acted on behalf of the building’s owner Norcros Group, which has spent £1m refurbishing the building, known as The Groundwell Distribution Centre, to turn it into a high-quality distribution warehouse.

James Lockhart of Whitmarsh Lockhart, which acted jointly with Savills’ offices in London and Bristol, said: “This recent letting confirms Swindon as very popular location. 

“The take up of large buildings in Swindon during 2013 is impressive, which is resulting in a shortage of second-hand accommodation in the size range 150,000 – 300,000 sq ft”. 

He said this will, in turn, lead to the development of new buildings to suit individual occupiers’ needs.

Toby Green, director of industrial business space at Savills, added: “Network Rail required extra industrial space to support the high output electrification project on the line between Maidenhead and Cardiff.”

Network Rail is paying £530,000 a year on a sub-lease from Norcros until December 31, 2018. The building was previously used as a distribution base by Norcros for its bathroom accessories.

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