Goold Estates have enjoyed significant success at Lakeside Business Park in Cannock following their purchase of this 75,000 sq ft development during the summer, having attracted two new occupiers and renewed existing leases with key occupiers.
Optimal Sports, a cross fit gym business, have taken a 3 year lease of 3,670 sq ft whilst Residential & Commercial Engineering Ltd, architectural technicians within the house building industry have signed up on 3,615 sq ft with a 6 year lease. Only two of the 4 empty units now remain empty.
In addition Siemens/Electrium have halted plans to relocate committing to a new 10 year lease within the 16,000 sq ft office tower, a well known landmark to users of the M6 Toll. The final deal has been a 3 year lease with new owner of the soft play occupier Kidz 2 Play on 3,634 sq ft.
Dominic Goold, Managing Director of Goold Estates explained: “On Lakeside Business Park we kept to our philosophy for all purchases which is to invest time and money to ensure voids are filled and income increased. By enhancing the exteriors, including the introduction of a new CCTV system and external LED lighting as well as refurbishing the vacant units internally we have repositioned the scheme within the market place. We have also changed the name from Lakeside Plaza which didn’t suit the type of occupiers we are seeking.
Unusually for a property company, but showing how we are prepared to take a proactive approach, we also took over the running of the existing self-storage business which we rebranded www.chase-space.co.uk . Helped by the introduction of new access control and internal CCTV systems we have been able to extend hours of access to 12 hours, 7 days a week increasing the income from £90,000 per annum to £130,000 per annum with the occupation rate having reached 75%.
Our work is not completed though as we still have two vacant units. Unit 1-3 totals 10,000 sq ft although it can be split into 5,000 sq ft whilst Unit 12, 3,600 sq ft, is also available. We are targeting industrial and trade counter occupiers for these remaining units.
It has been satisfying to see our strategy pay off quickly and we continue to look for other opportunities.”