The Aver joint venture between NFU Mutual and Ergo Real Estate has completed two lettings totalling just over 400,000 sq ft at logistics sites in Oldham and Sheffield.
Inspired Global Cuisine, which is part of the Iceland Group, has signed for 369,251 sq ft on a 15-year lease at Ergo Oldham and Therco-Serck has taken 25,387 sq ft on a 10-year lease at Ergo Park Sheffield.
Ergo Park Sheffield, which counts Tesla, UPS and Sainsbury’s as tenants, is fully let following completion of the deal to Therco-Serck. The Aver Property fund completed 1.147m sq ft of industrial lettings in 2024.
James Jepson, investment director at Ergo Real Estate, said: “Taking our leasing activity past the 1m 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.”
CBRE, Cushman & Wakefield and DTRE represented Aver at Ergo Oldham and Knight Frank and CPP acted at Ergo Park Sheffield.
