Blue Marble Asset Management (Blue Marble) has re-negotiated the lease on a 20,000 sq ft investment property in Seaham, County Durham, securing the tenant for a further three years.
Acting on behalf of CRT Property Investments Ltd, the Birmingham-based real estate asset management company negotiated a new three-year lease on Unit 2, Hall Dene Way in Seaham Grange to existing tenant Woodland Global Limited.
Woodland Global Limited is part of the Woodland Group, a logistics supplier to a number of major manufacturers including Proctor and Gamble, Grundfos and many suppliers to Nissan.
Unit 2 was acquired by CRT Property Investments Ltd, with the assistance of Blue Marble, as part of the acquisition of two units at Seaham Grange in March 2015.
Property Investment and Development Director for CRT Property Investments Ltd, Shaun O’Brien, says: “We’re extremely pleased to have signed a new lease with Woodland Global Limited and look forward to working with them over the next three years. The unit is a fantastic building in a prime location, it is easy to see why they have chosen to stay here.
“We would like to thank Blue Marble for their great work. As always it has been a pleasure working with the team.”
Tim Matthews, Chief Executive of Blue Marble Asset Management, says: “Within 12 months we have successfully renewed the lease on Unit 2, retaining the existing tenant. This move was part of our strategy for this investment when we first advised CRT Property Investments Ltd on the purchase last year. We deliver added value to meet our clients’ investment objectives by pro-active management to a pre-agreed strategy.”
CRT Property Investments Ltd is a subsidiary of the Coalfields Regeneration Trust, the only organisation dedicated to supporting the coalfield communities to help themselves.
Responding to the challenge from Government to become self-financing, the property investment company will provide a return that will continue to allow the Coalfields Regeneration Trust to create programmes that meet with the diverse and complex needs of the communities throughout the UK.
With some 5.5m people living in these areas, and many falling into the 30% most deprived in the country, there is still a lot of work to be done to restore these communities to the thriving villages and towns they once were.
