Industrial/Warehouse News

Acting on behalf of Hines, Tim Gilbertson of FHP Property Consultants is delighted to confirm the letting of prime new build space at Junction 28 of the M1 at Castlewood Business Park.

The building has been let to enable the continued growth and expansion of Schoolblazer, the UK’s leading uniform and sportwear supplier, who have signed a 10 year lease within a month of the building’s practical completion.

Tim Gilbertson, who acted on behalf of Hines in the disposal, commented:

“It’s great to see this deal done so quickly after practical completion of the building. The building formed part of a portfolio that Hines purchased on a forward funding basis from Clowes Developments, with this being the second deal on the portfolio, which means we have now let nearly 200,000ft² of space for them since their acquisition.

This latest letting confirms again the activity in the East Midlands’ distribution and manufacturing market, but pleasingly we still have available space of between 60,000ft² and 100,000ft² at Fairham Business Park, Nottingham and also a fabulous regional distribution centre at East Midlands Distribution Centre just off Junction 24 of the M1, adjoining East Midlands Airport, of over 340,000ft².

We are agents for both of those and with interest good, I would urge any other potential occupiers to come forward for either of those units sooner rather than later as we have seen good demand in the first weeks of 2024.

The Castlewood, Fairham and East Midlands Distribution Centre units form part of Hines’ commitment to deliver over 1,000,000ft² of high quality logistics space throughout the East Midlands and more information is available on the portfolio’s website (www.axis-portfolio.co.uk) or from myself or John Proctor at FHP or our joint agent Christian Smith at Savills.

We wish our new occupier well in the building, which means Castlewood is down to a final unit of 134,000ft² being available and I would be delighted to discuss any potential interest there.”

For full details on this transaction or to see how FHP can help you on any commercial property matter, please contact Tim Gilbertson on 0115 950 7577 or tim@fhp.co.uk.

ENDS

17 January 2024

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