Aqualux Products, part of the Fetim Group, is on the move after a double deal secured on distribution properties by national commercial property consultancy Lambert Smith Hampton (LSH).
Aqualux Products is moving to Unit 300 Solar Park in Solihull, a fully refurbished and modern 57,058 sq ft warehouse owned by Ignis UK Property Fund. They have relocated from their Universal Point premises in Wednesbury, which they have occupied since 2005.
The physical relocation, which was completed in just six weeks, marks the start of a new era for Aqualux Products. The move will allow them to integrate their shelving, flooring and window-decoration businesses together with their sanitary division.
“Aqualux’s premises in Wednesbury were no longer suitable for the company’s on-going property requirements”, said Alex Carr, industrial agency director at LSH in Birmingham who acted on their behalf.
“We subsequently provided Aqualux Products with a comprehensive exit and relocation strategy. This involved working in conjunction with their existing landlords and agents Jones Lang LaSalle, to agree a simultaneous early surrender of their lease in conjunction with the acquisition of new premises in Solihull”.
A new 10-year lease with five-year break was agreed on Unit 300 at Solar Park. GVA acted on behalf of Ignis UK Property Fund. The vacated unit at Universal Point in Steelmans Road, was let simultaneously to PRD Fasteners who were advised by DTZ.
Alex added: “These two deals represent excellent results for both companies whose property needs have altered as their businesses have evolved.” Simon Lloyd, head of industrial at DTZ, said: “The transfer of Aqualux Products’ activities to Solar Park in Solihull created an excellent opportunity for PRD Fasteners to relocate from a number of sites in the neighbourhood and consolidate its operations in a single highly accessible building, thereby enabling their business to grow.”
As part of the move, LSH’s building consultancy team negotiated a dilapidations settlement on Universal Point. They also undertook a pre-acquisition survey of Unit 300 Solar Park as well as managing Aqualux’s fit out of the building to include new offices to suit their occupational needs.
Aqualux Products is the UK’s leading supplier of shower enclosures and bath screens. PRD Fasteners is the UK’s premier manufacturer of high integrity special and non-standard fasteners and CNC machined components.
Alastair Murray, finance director at Fetim Group UK, said: “Solar Park is a great location that provides a multitude of benefits, including ready access to the national transport networks. Whilst we have flourished at our Wednesbury location, we recognised the potential for improved communications that is offered by the M42 Corridor and Solar Park specifically.”