SOCOTEC take Coventry warehouse & yard

 

As part of a co-location exercise SOCOTEC UK Ltd had just signed a lease on Site B Leofric Business Park in Binley, Coventry. Just off the A46 the site extends to circa 3.4 acres and the main warehouse / production space and offices extend to circa 47,500 sqft. The property has been fully refurbished by the landlord as part of the agreement. The company have signed up to a 15 year lease on the building and their operations in Southam and Daventry will be moving to the site later in the year. Boston Fieldgate advised SOCOTEC on the search for premises, options reviews and then negotiating the lease terms.

6c keeps Training

The London & North West Railway Society have extended their occupation of their office space Unit 6c Princes Drive Industrial estate by lengthening their lease through to 2031 to facilitate them securing funding to undertake further fit out and upgrade works to the unit. Boston Fieldgate advised the landlord in these negotiations.

Peacocks Kenilworth investment sold

 

KRES Ltd have just completed their sale to Lever Arch Investments of their mixed use – retail and residential investment at 34-40 Warwick Road in central Kenilworth, The 4,626sqft  ground floor retail  unit is let to Peacocks Stores Ltd on a  5 year lease from May 2029 at £44,000pa and the 17 new build 1 and 2 bed apartments above are paying £4,250pa in ground rents. The sale price reflects a net yield after costs of just over 7%. Boston Fieldgate negotiated the renewal terms with Peacocks in 2019 and negotiated the investment sale on behalf of KRES.

Alvis Works attract & retain

This 8 unit development of warehouse / workshop and office space on the Common lane in Kenilworth continues to provide a home for businesses seeking value for money accommodation in an accessible location. Whilst the landlord has taken back for their own occupation units 1/2/7 Boston Fieldgate have negotiated lease renewals on unit 3b /4/5/6 with the existing occupiers and have let Unit 8 a single storey office building of just over 1,000sqft to Charles Peters Ltd.

LightwaveRF takes more

Following taking a lease on Laboratory space in the autumn of 2019 [See Assay Secures LightwaveRF below] at the Birmingham Assay office in Birmingham’s Jewellery Quarter  they have now taken a further 2,497sqft of offices on a co terminus lease. Boston Fieldgate advised the Birmingham Assay Office on the letting.

Princes secure Premium

Princes Drive industrial Estates secures a premium. Premium Art Brands Ltd have taken a 5 year lease on the 1,862sqft Unit 13c on a 5 year lease. The company offers professional quality, premium, niche art material products to business trade accounts and has taken a 5 year lease and have relocated from  Warwick. Boston Fieldgate advised the landlord and negotiated the lease terms.

New tenants at 47 Warwick Road

2 new businesses have taken space close to the heart of Kenilworth’s retail area and near to Waitrose. No.47 Warwick Road has been let to Mr & Mrs Betts on a 5 year lease for an antique shop selling period furniture, crystal and much more. 47a has been taken on a 5 year lease by Hollow Grind as a barber’s shop. Boston Fieldgate acted for the freeholder – a private investor client and negotiated both lettings.

MG Attracts & retains

Boston Insurance have just renewed their lease on 835sqft of high quality barn conversion offices for a further 5 years at Mouldings Green near Meriden.  Late last year TBL Fire Protection Ltd have taken a 5 year lease on Unit 5 which offers 2,350sqft of offices & warehouse space. Boston Fieldgate advised the landlord’s on both transactions and MD Charles Smith said ”the location close to M6/M42, NEC and airport clearly makes Mouldings Green a great place for business and even in these uncertain times the location alongside good quality accommodation and a proactive landlord  creates the right situation for regional businesses to commit for their ongoing growth”

Lighthouse sold in Kenilworth

On behalf of Warwickshire County Council the sale of the Lighthouse , 85 Priory Road, Kenilworth has been negotiated by Boston Fieldgate. The property located at the entrance to the recently open Kenilworth Railway Station offers 1,392sqft of offices over 2 floors plus 3 allocated parking spaces. A high level of interest was expressed which resulted in a Best Bids process. The preferred buyer Aesthetics Event Staff Ltd completed the sale a couple of weeks ago and they will be refurbishing the building for their own occupation.

Assay secures LightwaveRF

On behalf of the Assay Office retained agent Boston Fieldgate has negotiated the letting of a laboratory suite within the main building to LightwaveRF Technology who will be using the facility for R & D and testing of new products in relation to their products for intelligent home automation.

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