4
BUSINESS connect MAGAZINE
December/January 2022
news
Warehouse REIT continues Government boosts regional air connectivity acquisition programme with
£35 million Liverpool transaction
The Government has confirmed that it will provide up to £4.3 million to fund direct flights between London and Newquay, and London and Dundee, in a major boost for regional links across the country. Cornwall Council will receive up to £1.8 million over two years to run flights from London to Newquay, in a reinstated PSO agreement that will create hundreds of jobs and keep people connected across the South. The Government has also confirmed that it will provide up to £2.5 million to fund direct flights for a further two years between Dundee and London until 2023. This funding will keep an important route running, supporting regional links across the country. The two PSO agreements ensure that people from both ends of the country can stay connected through direct flights and benefit from economic growth through encouraging tourism and business travel for years to come. The airline Loganair will continue to run the flights to Dundee, operating from Dundee Airport to London City Airport. Flights from Cornwall Airport Newquay to Gatwick will commence from December and will be operated
by Eastern Airways. Robert Courts, Aviation Minister said: “We’re maintaining these vital transport links, including the hugely popular London to Dundee and the reinstated Newquay to London routes, for people right across the country for tourism and business travel.
Warehouse REIT, the AIM-listed company that invests in e-commerce urban and last-mile industrial warehouse assets in the UK, has announced the acquisition of four modern warehouse units on Boulevard Industry Park in Speke, Liverpool, totalling 390,000 sq ft. The 400,000 sq ft deal takes the businesses total portfolio past eight million sq ft.
The purchase price of £35 million reflects a net initial yield of 5.5%. Ranging from 74,000 sq ft to 163,000 sq ft, the units are occupied by three separate occupiers spanning the “The Government is fully behind automotive and pharmaceutical UK regional connectivity and sectors. The properties generate a strengthening these routes as we build back better from the pandemic.” net rental income of £2.1 million per annum equating to a low average UK Government Minister for Scotland rent of £5.31 per sq ft and provide a Iain Stewart said: “It’s great news WAULT of over 7 years. that flights between London City and Dundee have been secured for another two years.
Boulevard Industry Park is one of Liverpool’s most successful and popular business locations, immediately adjacent to Jaguar Land Rover’s 300-acre Halewood manufacturing plant and major Astra Zeneca and Seqirus facilities The North West is one of the fastest growing regions in the UK, which is benefitting from a rising population of over seven million people and continued investment into the region’s infrastructure. Large projects such as Liverpool 2, the new deep-water terminal at Liverpool Dock, The Mersey Gateway Project between Runcorn and Widnes and the proposed new Terminal 1 at Manchester Airport are all expected to drive economic development and increase demand for industrial space.
“As we work to improve transport connectivity across the whole country, this route will continue to allow quick and easy travel between Tayside and the UK capital, supporting economic growth and job creation.” Cornwall Council cabinet portfolio holder for transport, Philip Desmonde, said: “It is vital for our residents and business community that direct flights between Newquay and London are maintained and I welcome the news that Eastern Airways will operate our key route.”
Don’t allow long-standing debts to adversely affect your business For all your credit management requirements Premium Collections Limited have the solution. Staffed by dedicated professionals with over 50 years combined experience handling virtually every type of debt issue, and operating on a national and international basis, we can tailor a package of services to meet your requirements.
• Debt collection • Insolvency book debts collection • Vehicle repossesions For a detailed discussion on how we can help your business or for a quotation for any of our services, please contact Paul Daine, Managing Director on:
0161 962 4695
enquiries@premiumcollections.co.uk www.premiumcollections.co.uk
PO Box 448, Altrincham, Cheshire WA15 7WP
