Glenbrook secures two deals at Liverpool Docklands

After buying the industrial site in October last year, the investor and developer has secured two lettings totalling 37,000 sq ft.

The largest is by Bootle Containers, which has relocated from Ten Streets to take 21,000 sq ft on a five-year lease at £3/sq ft. The deal was facilitated by LM6.

Separately, door and window manufacturer ODL Europe has expanded to take 16,000 sq ft across two units. The company already occupies a 26,000 sq ft facility at the site, and was unrepresented in its expansion.

The 151,000 sq ft scheme on Baltic Road, acquired by Glenbrook last year from Acorn Industrial at a net initial yield of 13.5%, covers 19 units over five terraces as well as additional developable land.

Glenbrook is already well under way with a speculative refurbishment of units totalling 21,000 sq ft, which is due to complete this month.

Mason Owen and LM6 are joint letting agents for the scheme; Mark Coulthurst of Mason Owen said: “The quality of the tenants here is extremely high with many companies feeding off the docks and its close proximity to the city centre.

“The market for this type of space is very buoyant and this speculative refurbishment of these units offers a rare opportunity for owner-occupiers to take on a leasehold or freehold tenure.”

Chris Lloyd, investment director at Glenbrook, added: “The deals we have secured further underline the demand for industrial space in this area of Liverpool. By investing in the refurbishment of the industrial accommodation, we hope to maximise the value of this asset.”