15 July 2019
Industrial & Logistics
Unit D, Gravel Lane Chichester has been let to Contract Candles & Diffusers Ltd on a new ten-year lease on behalf of PFC Property Ltd – one of the largest lettings on the Sussex Coastal strip this year.
The newly refurbished 28,387 sq ft single storey warehouse with enclosed yard is in a near-pristine condition including a new roof.
Availability in the Chichester area has significantly tightened since 2017, virtually halving from more than 300,000 sq ft to 178,000 sq ft, and rents have risen accordingly to as much as £13 psf for new-build units in an area which has fortunately seen several speculative schemes either complete or receive consent.
SHW Business Space Partner Duncan Marsh said: “Speculative building in the vicinity has continued to rise, but there is still more scope to develop in the Chichester / Littlehampton catchment.”
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