Mather Jamie has secured the £1.1 million sale of a 20,506 sq ft (1,905.02 sq metre) industrial warehouse on Bardon Industrial Estate, Coalville to Leicester-based firm The Gas Superstore.
The commercial agent acted on behalf of tenant Sun Chemical Ltd to agree a deal that would surrender the firm’s lease and achieve an onward sale of the Bardon Industrial Estate warehouse, on Reg’s Way.
The Gas Superstore, which supplies kitchen appliances and fireplaces nationwide, has used the move to Unit 1 to consolidate a number of existing warehouses across Leicester and expand its current operation.
Alex Reid of Mather Jamie comments: “As Sun Chemical still had until 2020 to run on its lease, it was imperative we find a suitable tenant or purchaser for the premises.
“By marketing the property, we were able to attract The Gas Superstore as a purchaser, which allowed Sun Chemical to surrender their existing lease.
“The location of the warehouse within the Bardon Industrial Estate was a particular selling point, being around three miles from the M1 and 11 miles from Leicester.
“The current lack of large warehouse space in the county also made Unit 1 an attractive purchase and a good investment to the incoming purchaser as Sun contributed towards the purchase to secure the surrender of their lease.”
Paul Fenn of The Gas Superstore comments: “We’ve purchased the warehouse as part of an expansion of the business, but also to make our operation more efficient by creating one central distribution centre.
“For a number of years we’ve had smaller warehouses dotted around the Wigston area, but this move has allowed us to bring them together, as well as providing us more space for our growing business.
“We will also be recruiting 12 new warehouse staff members as a result of the move.
“Logistically this is the best place we could be located, because it’s so central; we operate throughout the UK, so being situated just off the M1 is ideal for us.”
Margaret Pearce of Sun Chemical, which specialises in ink and printing products, comments: “The warehouse was formerly occupied by Coates Brothers, a company that Sun Chemical acquired in 2000.”
“Following the acquisition, and after a period of consolidation, we found ourselves with duplicate premises in a number of locations, including the East Midlands, and took the decision to close the warehouse in Coalville in 2009.”
“When we vacated our lease commitment still had eleven years to run, so we have been keen to find a suitable tenant to take over our lease.
“We are delighted that Mather Jamie has secured a sale on the property and that the transaction has been handled so quickly.”
Unit 1 comprises 18,644 sq ft (1,732.04 sq metre) warehouse and office space to the ground floor and 1,862 sq ft (172.98 sq metre) of office space to the first floor, plus a large loading yard and generous parking.
