One of the UK’s biggest distributors of beds and mattresses has agreed a new 10-year lease at Beecham Business Park, in Aldridge, commercial property company Goold Estates has announced.
Sleep Design, an established online bed retailer, has extended its lease on a 45,000 sq ft business unit. The fully refurbished unit includes a new showroom and offices, replacement roof, re-cladding and LED lighting throughout.
Goold Estates acquired Beecham Business Park in 2017, in a deal worth £2.4 million. The estate has 105,000 sq ft of industrial and office space on a 6.5-acre site.
Following refurbishment, the rent at Beecham Business Park will be in excess of £400,000 per annum. It is fully let with 15 tenants. Occupiers include Dennis Eagle, Westway Nissan and Oak Furnitureland.
Dominic Goold, director of Midlands-based Goold Estates, said: “We are delighted to have agreed a new 10-year lease with Sleep Design and managed to conclude the refurbishment of the unit and other parts of the site while Sleep Design remained in situ.
“Beecham Business Park has proved to be a positive addition to our portfolio of good quality sites across the West Midlands region, which we have acquired and improved while working alongside tenants to meet their requirements.”
Established in 2005, Sleep Design has built a reputation as one of the biggest independent distributors of beds and mattresses in the UK. The company, which supplies many online businesses and high street retailers, such as Tesco, holds thousands of products in stock, distributing over 1,000 beds and mattresses each week.
Stuart Hubble, managing director of Sleep Design, said: “When we heard we were having a new landlord we were quite naturally a little apprehensive. However, after many very open and honest discussions between myself, Dominic Goold and Anthony Williams (operations director), we were made to feel comfortable that we were dealing with a professional outfit that genuinely wanted to improve our building and work with us with a long-term view.
“We feel we have established a good working relationship and are looking forward to working with Goold Estates over the coming years and, as we grow, we feel we have a landlord who will look to accommodate us further and work closely with us with both our and their interests in mind.”
Beecham Business Park is one of several multi-let industrial estates to be acquired by Goold Estates. The company purchased Redmill Trading Estate site in Wednesbury for £1.79 million from Tayto Group in 2015. The 130,000 sq ft site was acquired as a completely vacant site but was refurbished and fully let in less than a year. Occupiers include Screwifx, Combat and Morgan Sindall Properties.
Goold Estates also acquired Lakeside Business Park in Cannock. The 3.8-acre site includes 87,774 sq ft of retail, leisure, office and warehouse accommodation. Occupiers include Euro Car Parts, Newlife and Electrium, a division of Siemens. More recently Goold completed the speculative multi-million pound development of Steelpark in Wednesfield, delivering 70,000 sq ft of industrial/warehouse units.