International Automotive Components Group has doubled its warehouse space within Aberdeen Asset Management’s Boulevard Industry Park to 150,000 sq ft over two units.
The injection molding company has renegotiated its lease on a 77,300 sq ft facility and has also agreed to take over a 72,500 sq ft building formerly occupied by Johnson Controls.
The two warehouses will be used to service contracts for the nearby Jaguar Land Rover factory.
B8RE advised Aberdeen Asset Management.
Darren Hill of CBRE acted for International Automotive Components Group and Phil Morley of DTZ acted for Johnson Controls.
Jonathan Thorne, partner of B8RE who dealt with the transaction, said: “This deal is further evidence of the positive effect that the growth of the JLR factory is having on the local economy both in terms of job creation and driving forward the property market.
“Demand for industrial buildings in Merseyside is at record levels driven by JLR’s supplier contracts, the growth of the Port of Liverpool and improvements in connectivity and transport links for logistics in the area. This increased demand coupled with limited supply of buildings is also leading to rental growth taking prime rents to over £5.25/sq ft.”