334,000 FT² WAREHOUSE LET!

Industrial/Warehouse News

Acting on behalf of Kilmartin Property Group and JP Morgan joint agents Fisher Hargreaves Proctor, M3 and King Sturge have secured the letting of the former TDG Warehouse on Trent Road at Grantham to the Random House Group with the lease completing in early April. 

The warehouse which extends to over 334,000 ft² was acquired vacant by the joint venture in the first quarter of 2007 and following extensive marketing terms were agreed towards the end of last year. 

The building will be occupied by Grantham Book Services, who are a subsidiary of Random House Group, and they are taking this warehouse as a further commitment to Grantham which will see them consolidating a number of their warehouses into this one new facility.

Edward Hine of FHP comments:

“It is very gratifying to see our clients being rewarded for their investment in this property by securing a 15 year lease to a company with an excellent covenant. 

 

This letting highlights the vibrancy of the market for high bay warehousing in the A1 corridor, especially between the A14 and the M62.  I believe that further occupiers will be attracted to the A1 as significant improvements are being completed to the former roundabouts between Peterborough and Doncaster.

 

This letting is one of the largest in the East Midlands this year and reflects the demand for fully fitted warehouse space with good access to the major road networks.”