Member Article

93,000 sq ft Sheffield industrial property leased thanks to CCP

South Yorkshire property consultants Commercial Property Partners (CPP) have negotiated a new 10-year lease on behalf of Kindale Ltd at the Foremost Industrial Estate, Grange Mill Lane, Sheffield.

Kindale owns three modern warehouse units, totalling 93,230 sq ft, at the industrial estate, adjacent to Junction 34 of the M1.

CPP acted as agents and negotiated the new 10-year lease from January 2014 on all three units to tenant Ferraris Piston Services (FPS) Ltd. The annual rent is £363,000.

The Sheffield office of Knight Frank were joint agents on Unit 2, while FPS were represented by Charlton Commercial.

Toby Vernon, Partner at CPP, commented: “We were delighted to be able to negotiate this new lease on behalf of Kindale.

“This is a sizeable letting and demonstrates the strengthening of the industrial market. Occupier confidence is growing and the supply of good quality, modern space across all sizes ranges is now becoming increasingly scarce.

“The Foremost Industrial Estate is a great success story, fully let to a single, Grade A tenant”.

Mr Vernon added: “CPP, which was founded in September last year, is now handling a large portfolio of commercial properties across the Yorkshire and the North Midlands region.

“We are advising a wide range of clients dealing with leasing, sales, acquisitions, investment and development work. The recent addition of our property management team means we can now also offer clients a full asset management service.”

This was posted in Bdaily's Members' News section by Clare Burnett .