A pair of North West advisory firms have joined forces to launch a new service.

The joint venture between Dow Schofield Watts and B8 Real Estate has been designed to help property owners, occupiers and private equity firms consider ways to raise funds and reduce costs.

According to B8’s figures, occupier take-up of larger industrial and warehouse units in the North West rose by 43 per cent last year to a record 5.2m sq ft.

With a further 2.5m sq ft under offer and up to a year’s worth of supply of new build or top-grade units available, the company believes there is a “very real prospect of shortages ahead”.

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