Sandyford lets three multi-let industrial units in Staffordshire to Howdens, Xtrutech and Kids Planet
Sandyford Properties, the UK multi-let industrial property company, has signed lease agreements with three companies in the trade counter and children’s nursery sectors in north Staffordshire.
At City Park Trading Estate in Fenton, Howdens, the UK’s number one trade kitchen supplier, has signed a 10-year reversionary lease for a 16,132 sq ft unit, committing it to the site until 2038. Based on the edge of Fenton Industrial Estate, City Park is an established industrial estate of 16 units.
At Festival Trade Park in Hanley, Sandyford has extended its ownership, by acquiring a 6,785 sq ft unit from the occupier, Xtrutech Limtied in a sale and leaseback transaction. Xtrutech has agreed a 10-year lease at a rent of £7.75/sq ft. Festival Trade Park was developed by Stoke-on-Trent Regeneration, a joint venture between St Modwen Properties and Stoke-on-Trent City Council, as the third phase of wider 300-acre Festival Park development.
At Mount Industrial Estate in Stone, one of the tenants, Giggles & Wiggles, a children’s nursery, has been acquired by Kids Planet, a national children’s nursery chain. As part of the deal, Sandyford has agreed a 15-year lease with Kids Planet at a rent of £11/sq ft, which rises each year in line with inflation. Mount Industrial Estate is a former brewery that has been converted by Sandyford into 83,000 sq ft of industrial space in 16 units. Occupiers include Warburtons, Pro Evolution Fitness and Lymestone Brewery.
Paul Brindley, managing director of Sandyford Properties, said: “These three transactions show that, despite the economic headwinds, the multi-let industrial market remains robust in the Stoke area because of the depth and variety of occupier demand”.