Stockton-based consultant Connect Property North East (CPNE) has celebrated its first year of trading by scooping a prestigious industry award for the most active industrial agent across the region.
The award, presented by national industry publication Estates Gazette, recognises the practice achieving the largest number of transactions across the region in a 12-month period, with CPNE sharing the top spot with an international practice.
The accolade recognises a diverse and varied specification of building deals done by CPNE, ranging from as little as 500 sq ft on Whitestone Business Park in Middlesbrough to a 93,000 sq ft workshop acquired by the Jennings Group in Stockton, making up over 70 individual transactions over the course of the year.
And it’s another achievement for managing director Tim Carter who, in 2013, was named the Estates Gazette most active deal maker for the whole of the North East.
“This is testament to the 12 months of hard work that we have put into getting this new practice up and running,” said Tim.
“We are extremely proud of this achievement, and we would like to thank all of our clients for supporting us and helping to make this possible.”
Fellow director and co-owner Jonathan Simpson said: “Last year saw a significant level of take-up of industrial and warehouse space across a huge range of varying size and age of building.
“Over the last 12 months we have seen how the strong occupational market in the North East continues to fuel and drive the investment market across the region.
“Rental growth in the sector has continued to rise, triggering significant investment, with the A1 corridor continuing to be the region’s top performing area.”
CPNE say the end of 2015 saw Darlington’s biggest letting for a number of years, including 25,000 sq ft to JLM Foods at the award-winning Lingfield Point, which itself was acquired by Clearbell at the back end of 2014.
Tim added: “Across on Teesside, occupancy levels have continued with significant investment in industrial stock by larger the stakeholders in Teesside, such as Mandale and UK Land Estates.
“Teesside Industrial Estate has seen the biggest level of activity, where we concluded 14 separate transactions and have seen rents rise to the £6 per sq ft level.
“Occupier activity on Teesside has been primarily the expansion and relocation of smaller SME’s but with the likes of Cooper BMW expanding and A-Plant acquiring new premises on Haverton Hill.”