Big rent rise for Northampton shed

By Liza Helps Property Editor Logistics Matters

IN ADDITION to securing the rental uplift, Kirby Diamond secured agreement between tenant and landlord investment manager ESR Europe for works to improve the EPC credential of the building.

ESR Europe associate in asset management Jordan Stockle, said: “This represents a deal mutually beneficial to both tenant and landlord. Improving the asset through ESG initiatives protects both the tenant’s occupancy and operational performance, but also the landlord’s investment.”

According to Lambert Smith Hampton’s Box Clever Industrial & Logistcs report 2024: “Prime rents in the East Midlands’ key markets accelerated to an average of 14% in 2023, rising from 10% in 2022. This is the only UK region to see an acceleration in rental growth on the previous year. This was boosted by exceptionally strong growth in two of the region’s key markets, namely Northampton (up 22% year-on-year) and Leicester (up 20% year-on-year).”

Kirkby Diamond partner and head of lease advisory and asset management Mark Hannam, said: “Achieving a 24% increase in rent is a truly excellent result for our client and illustrates the rental growth opportunities within the town.”