Alternative Uses for Industrial Space
With the number of available industrial units in the marketplace having increased since the start of the recession, landlords have been prepared to accept alternative uses to get buildings let and income producing. This has become more commonplace since the introduction of empty business rates on industrial units.
Barker Storey Matthews Bury St Edmunds office now part of Eddisons have recently completed the letting of a 4,300sqft industrial unit at 147 All Saints Road, Newmarket to a new Wellbeing centre. The unit is situated within walking distance of Newmarket town centre.
Steven Mudd, agency surveyor at Barker Storey Matthews, comments ‘this letting compliments the location and surrounding occupiers but also represents the pressure landlords are under to accommodate alternative uses to avoid long term vacancies.’
In a lot of cases alternative uses are OK in principle but consideration also needs to be made with regard to planning and uses within the use classes order. Typically, small industrial units have the benefit of B1 Light Industrial use. Units often have the benefit of B2, General Industrial use or B8, Warehouse but other uses may require a change of use planning application.