CBRE advises on North West’s largest letting
Pilkington UK Ltd has taken a major warehouse on the site of the proposed new rugby league stadium in St Helens.
The glass manufacturer’s building products division has leased the 262,000 square foot site from Langtree Plc. This is the largest letting in the Industrial sector in the North West in 2007.
Howard George, director of industrial agency at CBRE, advised on the deal and commented: “The introduction of empty property relief, which taxes landlords on empty premises, will mean that temporary and flexible lettings like this may become more popular. In order to avoid payments of rates, landlords will be encouraged to find tenants for vacant space until, in this instance, larger re-development or refurbishment commences.
“Pilkington is using this space as an extension to its existing substantial manufacturing facilities in the area.”