BNP Paribas Real Estate, the leading property adviser, has leased an 18,079 sq ft industrial facility at 1 Kings Court to The Canute Group, which continues to be one of the fastest growing, global supply chain providers operating today.
The global company secured the detached, modern industrial warehouse with offices, located on the Team Valley Trading Estate in Gateshead, after signing a 10 year lease.
Nick Wood, commercial director at Canute, said: “The opportunity to secure larger premises at Kings Court allows us to expand our ever growing logistics network and provides a dedicated hub for cross docking, realising cost effective solutions for our retail clients.”
Pamela Gray, asset management partner at CKD Galbraith, acting as landlord’s agent, confirmed: “Our clients are delighted to have agreed mutually acceptable terms with Canute, and this deal endorses the continuing market demand for well located, good quality property.”
Aidan Baker, director of agency at BNP Paribas Real Estate’s Newcastle office, commented: “It is easy to see why The Canute Group chose this facility, as it offers excellent loading capability to both sides of the warehouse with a good yard and circulation space and located in a prominent position on main estate road.”
Team Valley Trading Estate is recognised as the North East’s premier industrial location, home to over 700 businesses – incorporating in excess of 6,500,000 sq ft of industrial, office and retail accommodation.
The Estate enjoys excellent communication links being situated adjacent to the A1 Western Bypass, which links the region with Scotland and the South and only minutes away from Newcastle city centre and Newcastle Airport.
