CRT Property Investments Ltd and its asset manager Blue Marble Asset Management (Blue Marble) have let a 37,000 sq ft industrial unit in North Tyneside.
Medical packaging company Nolato Jaycare has signed for a five year lease on Unit 1, New York Way, North Shields, NE27 0QF.
The property was being marketed at a quoting rent of £170,000 per annum by Newcastle-based industrial agency HTA Real Estate and Cramlington-based MJM Commercial Property Consultants which advised CRT Property Investments Ltd and Blue Marble. Nolato Jaycare was unrepresented.
Unit 1, New York Way is a 37,700 sq ft detached, stand alone, high quality, modern industrial warehouse unit with two storey offices, a secure fenced yard and 42 car parking spaces. It is located in a thriving commercial area close to Silverlink Retail Park and Cobalt Park and adjacent to the A19.
Unit 1 was acquired by CRT Property Investments Ltd in December 2014, with the assistance of Blue Marble, when it was let to a tenant not in occupation. CRT Property Investments Ltd and Blue Marble agreed a surrender of the lease at a premium and placed the property, the last remaining unit of its size in the area, on the market.
Property Investment and Development Director for CRT Property Investments Ltd, Shaun O’Brien, says: “We’re extremely pleased to have signed a lease agreement with Nolato Jaycare. The unit is a fantastic building with good access to the nearby national road network. It is easy to see why they chose this location.
“We would like to thank Blue Marble and our local agents for their great work. As always it has been a pleasure working with the team.”
Birmingham-based real estate asset management company Blue Marble will continue to asset manage Unit 1 for CRT Property Investments Ltd.
Tim Matthews, Chief Executive of Blue Marble says: “Our pro-active asset management strategy has worked well for our client. The premium we took for the surrender of the lease has covered the empty period and we have secured a better rent from the new tenant, reflecting the improved market conditions.”
Based in Birmingham’s Colmore Business District, Blue Marble Asset Management is a real estate asset management specialist which presently has more than £70 million of property assets under management. It works for a select range of clients including investment businesses, high net worth individuals, trusts and family offices. Its business is based on taking a holistic and strategic view of each of its property investments.
