Montgomery Distribution increases Lancs presence

The freight specialist has taken the 131,486 sq ft Alpha Building at Walton Summit in Bamber Bridge, adding to its existing space at Green Place.

Landlord Harworth was represented by JLL and Pinkus & Co on the deal.  Montgomery has agreed a 10-year lease.

Robert Kos, director at JLL, said: “Walton Summit is a popular location with a low turnover of tenants. Given the lack of available stock in the wider Central Lancashire market, we received a strong level of interest from the outset.”

The deal comes as a market update from CBRE said that 2022 take up for big box space, meaning 100,000 sq ft+, in the North West is on par with the record year of 2021, being well on track to outperform the 10-year average.

Logistics take-up for the year to date now stands at 4.7m sq ft, said CBRE. However, the market may be cooling. CBRE said that 800,000 sq ft was under offer at the end of the quarter, the lowest level since Q3 2020.

In a special Place North West special report in October, agents said that land values and demand were both softening as funders and occupiers alike await greater economic stability.

Close to Bamber Bridge, south of Preston, Walton Summit Industrial Estate is a well-established industrial and logistics location offering proximity to Junctions 29 and 30 of the M6, Junction 9 of the M61, and Junction 1 of the M65.

At the Four Oaks Road site, Montgomery Distribution will occupy the 131,486 sq f unit which benefits from an eaves height of 8.3m, 27 dock-level loading doors, and a 0.86-acre yard. Montogmery also occupies a seven-acre plot at Green Place within the Walton Summit area.