A thriving Worcestershire industrial estate is once again fully let following the completion of deals involving four units, leading national commercial property consultancy Lambert Smith Hampton (LSH) announced today.
Acting as sole letting agents on behalf of Centurion Properties and the Scottish Widows Investment Partnership Property Trust (SWIPPT), LSH has secured four new leases with two tenants – bringing investment and jobs to Lakeside Industrial Estate in Redditch.
CDI UK – Clements and Street, which specialises in the manufacture and installation of bespoke event space interiors and exhibition stands, has taken a new 15 year lease of units 10, 11 and 12 – extending to 26,865 sq ft – at a rent of £121,000 per annum (£4.50 sq ft).
Meritor Aftermarket UK Ltd, a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets, has taken a lease of unit 14.
Gemma Butler, industrial & logistics graduate at LSH in Birmingham, said: “These two transactions demonstrate both the popularity of the estate and the dearth of quality multi-let industrial stock in the Redditch market at present.
“It is very pleasing to be working on behalf of Centurion Properties and SWIPPT and these transactions once again highlight their track record of delivering out-performance on multi-let industrial assets.”
Brendan Wilde, business development project manager at Meritor Aftermarket UK, said: “The unit at Lakeside Industrial Estate is the ideal location for us as we seek to expand our business. As well as being close to our existing site it offers good quality accommodation which is suitably configured for a manufacturing business such as ours.”
Paul Reid, head of asset management at Centurion Properties, said: “We are very pleased that the estate is once again fully let and income-producing, with new rental levels being set for the area. We will continue to work closely with our tenants to ensure they are housed in high quality warehouse and industrial units, so that they can concentrate on their core businesses.