During the summer of 2016, this multi let industrial estate was acquired by Northern Trust, a leading provider of industrial and trade counter units across the country. The estate comprises 9 units in 4 terraces totaling approximately 66,000 sq ft occupying a very prominent position on Raynesway on the eastern side of the City.
FHP Property Consultants and Innes England were instructed as joint letting agents in the marketing of the vacant space, which is ideally suited for either trade counter or warehouse use given the excellent access to the outer ring road, A50 and motorway. Following the purchase of the estate Unit 5 has been let to Alvin Morris, a provider of floor coverings, and Unit 2 has been let to Onepost, who are already on the estate, as part of their expansion. The estate is currently fully occupied.
Richard Suart from Whittle Jones, acting on behalf of Northern Trust says:
“We are pleased to acquire this estate due to its road communications, prominence, mix of tenants and scope to actively manage the estate for the benefit of the occupiers”.
Tim Richardson from FHP Property Consultants adds:
“This is one of the best known estates in the City and provides good quality modern space attractive to both warehouse and trade counter operators. Northern Trust are a proactive provider of industrial and distribution space and we are pleased to be working with them to market the scheme”.
Stuart Waite from Innes England comments:
“We are delighted to have achieved full occupancy for our client in such a short period of time following their acquisition of the estate early in the year. The estate offers high quality warehouse/trade counter accommodation in a highly prominent spot with excellent major road links, these fundamentals, set against a chronic shortage of good quality accommodation in the city has enabled us to secure high quality tenants on long term deals”
