A heating and ventilation distribution company has shown its commitment to a Black Country industrial estate after taking a long-term lease.
Lindab Ltd has signed a 10-year lease on Unit 9, Junction 2 Industrial Estate – a 17,856 sq ft fully refurbished warehouse in Oldbury, relocating from another unit on the same site.
National commercial property consultancy Lambert Smith Hampton’s (LSH) Birmingham office acted on behalf of the landlords Scottish Widows Investment Partnership and Centurion Properties to secure the letting. Altus Edwin Hill advised Lindab.
Junction 2 Industrial Estate boasts superb transport links with its strategic location adjacent to the M5. The estate occupies a prominent position just west of Birchley Island and comprises nine high quality industrial and warehouse units providing 145,342 sq ft of accommodation.
Lindab chose to remain at Junction 2 Industrial Estate because it is in a strategic business location and provided the opportunity to work with the landlord to develop the property to suit the company’s needs.
Alex Carr, Director of industrial and logistics at LSH, said: “We are pleased that Lindab chose to remain within Junction 2 Industrial Estate. Long-term leases are a rarity so the company’s 10-year commitment demonstrates that this well-established estate continues to accommodate their business needs.
“Centurion Properties also treat occupiers like Lindab Ltd as business partners rather than counterparties in an adversarial contest. This approach is the surest way to preserve and enhance asset value.”
Mike Goodspeed, of Lindab, said: “Before we moved in the landlords extended and refurbished the unit to meet our requirements. We wanted to stay on the estate because it provides easy access to the national motorway network and provides the perfect base for our business.”
Alex added: “Unit 2, measuring 19,810 sq ft, and Unit 5 comprising 8,080 sq ft will both now be refurbished and we will be bringing them to the market shortly. The units are suitable for light industrial (B1), general industrial (B2) or storage/distribution (B8) uses.”