Award-winning property consultancy Commercial Property Partners LLP (CPP) has announced the letting of West 28 to world leading textile manufacturer Guildford Europe on behalf of client PMW Property Developments.
Guildford Europe, which forms part of the Lear Corporation and supplies leading international brands with high-tech performance fabrics, has taken a lease upon the 72,480 sq. ft. industrial warehouse in a bid to further develop their automotive division at J28 of the M1.
The highly sought after refurbished industrial premises located on the Clover Nook Industrial Estate, Alfreton, comprises a combination of level access and dock level loading doors, a large secure and gated yard, internal eaves of up to 6.8m and well-presented offices and ancillary accommodation.
The development further boasts an exceptional location. Bramble Way, which forms part of the Clover Nook Industrial Estate, is a popular and established estate positioned within 2 miles of J28 of the M1. The estate has attracted occupiers including Eurocell, SIG Plc, Slimming World and Recticel. The excellent connectivity to the national motorway infrastructure and local links to Derby and Mansfield via the A38 help to make this a desirable location amongst occupiers.
Sean Bremner, Partner at CPP said: “This is a significant deal for our client. We knew the incumbent tenant was relocating and worked fast to identify a new occupier to ensure minimal void period from one lease ending and the new one starting. Demand in the area remains very strong and this unit presented itself as the perfect premises for Guilford Europe’s expansion.
“Junction 28 is experiencing a limited supply of good quality buildings between 50,000 and 100,000sq ft. There has been virtually no new build accommodation introduced to the market over the past few years, with occupiers having to secure the best of the second hand premises.
“As a result of the current demand and supply dynamic the region has seen lease lengths extend, incentives reduce and some rental growth evident – which is good news for landlords.
“It’s further good news for the local economy to see Guildford Europe expanding in the area; on behalf of CPP we wish them every success in the future.”
Mike Wrigley of PMW Property Developments said: “We are delighted to have secured a new lease upon West 28 so quickly. Sean at CPP worked quickly and effectively to attract the right interest, and we have achieved a great result. We have significant holdings in and around Junction 28 all of which are performing very well for us where we have assisted occupiers to expand and retain a presence in the area. We are pleased to welcome Guilford Europe into the portfolio.
Our confidence in the location is further confirmed with building works starting upon a speculative development on West Way which will provide 30,000 sq.ft. of brand new industrial and warehouse accommodation which we expect to be well received in the marketplace”.
Guilford Europe (part of the Lear Corporation) was represented Jacques Esterhuizen of CBRE’s Leeds office.
