A Coventry business park is now fully let following a deal with a major cheese producer that supplies retailers including Marks & Spencer, national commercial property consultancy Lambert Smith Hampton (LSH) announced today.
Aegean Heritage has signed a 10-year lease, at a rent of £5.75 per sq ft, on the 11.841 sq ft semi-detached unit four at Cross Point Business Park, Richardson Way.
LSH was acting on behalf of landlord Nottinghamshire County Council Pension Fund and Aberdeen Property Investors. Joint agents were North Rae Sanders.
Alex Carr, director and head of industrial agency at LSH in Birmingham, said: “Aegean Heritage was looking for a facility to complement its existing headquarters in Banbury to help it supply Marks & Spencer in the Midlands.
“Cross Point, with its excellent location adjacent to the M6, provides the company with an excellent base. They have rapid access via the motorway network to the Midlands market and further afield.
“The deal means Cross Point is now fully occupied. There is a genuine shortage of good quality industrial and logistics stock in the Coventry area, and elsewhere, and rents have returned to pre-recession levels. It begs the question where are occupiers, who want to locate themselves in or near the city, going to go?”
Cross Point is a well established mixed use business park with offices, warehouse/industrial buildings, a Tesco superstore and various leisure operators including a Showcase Cinema.
Coventry benefits from excellent road communications being situated at Junction 2 of the M6 motorway which interlinks with the M69, and both these motorways link with the M1. Going south into Coventry from Junction 2 of the M6 is via the A46 and A444, which in turn provides access to the A45 Coventry to Birmingham Road, with links to the M42, M40 and M5.