Aver, a joint venture between NFU Mutual and Ergo Real Estate, has completed on two key lettings at its logistics facilities in Oldham and Ergo Park Sheffield. These leases take the total prime industrial space leased across the Aver Property fund in 2024 to 1.147 million sq ft.
After collaborating with Ergo to deliver a power upgrade and planning permission at Ergo Oldham, Inspired Global Cuisine, part of the Iceland Group, has committed to 369, 251 sq ft, on a 15 year lease.
Therco-Serck Ltd has taken a 10 year lease of 25,387 sq ft at the final available unit at Ergo Park Sheffield, completing the tenant line up alongside Tesla, Sainsbury’s and UPS.
Ergo began 2024 with similar vigour, announcing a lease with Boughey Distribution for Novus Point, a 332,000 sq. ft warehouse in Lymedale. This deal was closely followed by the final letting at its prime industrial estate in Stafford, Ergo 66 to Hill Helicopters; designers, manufacturer and innovators in aviation.
By mid 2024, Ergo had also let 354,000 sq ft at Fradley Park Lichfield to Super Smart Service, a leading global e-commerce fulfilment service provider.
James Jepson, Investment Director at Ergo Real Estate said:
“Taking our leasing activity past the million sq ft milestone in 2024 is testament to the work across the Ergo team and the quality of spec industrial units the fund has delivered. In what has proven to be a difficult occupational market the fund has consistently performed to execute these leases and delivered an excellent line up of tenants across the industrial portfolio. We are delighted to have collaborated over the past year with key occupiers, local councils and national infrastructure bodies to enable the delivery of these new leases.”
Agents acting for Aver on Ergo Oldham were CBRE, Cushman & Wakefield and DTRE. Knight Frank and CPP acted at Ergo Park Sheffield.