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Tuesday, May 28, 2024

Rise in demand for industrial space sees law firm close deals worth over £3.5m

Leading North West law firm Butcher & Barlow has recently completed over £3.5m of industrial unit sales at a Cheshire business park.The Top Tier Legal 500 firm, headquartered in Bury with eleven offices across the North West, handled the sale of two semi-detached industrial units totalling 30,000 sq ft of space at Cheshire Green Industrial Estate in Wardle, Nantwich, for Spitfire Property Holdings.

These deals are just two of a number of deals handled by Butcher & Barlow for Spitfire Property Holdings over the last two years and reflect the growing demand for high-quality industrial space. Such demand, which has been rising since the pandemic, has been driven by the increase in online sales, with companies requiring storage and distribution units close to major arterial road, rail networks and major population centres.

Daniel Woodcock, Partner in the Commercial Property Department at Butcher & Barlow, said that these transactions had benefited from the Firm’s collaborative approach, to working as a team with clients and other professionals to deliver deals. He said:

“Industrial property deals have gone from being the poor relation of commercial property work to the place where it’s all happening. Deals like this involve a greater depth of legal expertise – the preparation of investment-grade leases and intricate development agreements in addition to the subsequent investment sales work make them more complex. There is therefore an inter-action between development work and investment work at quite a high level and involving significant values, and we’re finding we’re doing more of this type of work.”

“We have the advantage of Partners and senior Solicitors with all the relevant expertise who are used to working collaboratively together in the same team, as opposed to the larger city or national firms where separate teams may have to work on each different aspect in isolation and may be less joined-up as a result. We are able to work more collaboratively and holistically, which clients appreciate.”

About Butcher and Barlow

Butcher & Barlow has handled a number of deals for Spitfire Property Holdings over the last two years, from land acquisition through to development agreements, investment leases and sale agreements. Their Cheshire Green site is located off the A51 at Wardle, within easy reach of Crewe and Chester and 13 miles from Junction 16 of the M6.



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