A major expansion of Pentaxia, Derby’s tooling and composite manufacturer, has meant a relocation to a new facility and disposal of their existing freehold premises.
Established in 2008, the firms clients include some of the most advanced engineering businesses in the world. From fast jets to luxury cars, front of grid motorsport teams to bespoke engineering organisations.
Currently operating out of 6 units totalling 27,500ft² at Longbridge Lane off Ascot Drive, the business needed a facility that would accommodate their ongoing expansion.
Pentaxia identified a manufacturing property of some 70,000ft² on 6 acres on Alfreton Road, originally constructed for composites production by Rolls-Royce some 40 years ago and then extended by Key Joinery in more recent times. A deal was agreed and the focus turned to a disposal of the existing premises.
FHP Property Consultants commenced marketing and within days agreed terms for a sale to Derbyshire Investments (UK) Limited of the industrial premises together with a plot of development land within the same estate. As part of the transaction a flexible lease was put in place to allow Pentaxia to remain in occupation whilst the new property is refurbished.
Stephen Ollier from Pentaxia adds: “This is a very exciting period in our growth. This deal will see the new site return to its former glory as a centre of innovation and a composites hub for the Midlands, and will double our existing production capability, with room for additional growth in due course. FHP as property advisors have been instrumental in making this happen”.
Tim Richardson of FHP comments: “The client’s brief was to enable a release of funds from the existing property assets to facilitate the acquisition of the new building. The structure of the deal has enabled Pentaxia to do this whilst continuing to operate from the premises and allow an orderly move whilst maintaining production. Derbyshire Investments were straightforward to deal with and performed quickly on the acquisition”.
FHP are now instructed to offer the Ascot Drive premises to let following Pentaxia’s relocation, with sizes from 5,000ft² to 16,500ft², available from Q1 2018.
In addition, there is a design and build opportunity on the development plot suitable for a bespoke industrial unit up to 8,400ft², or other commercial use subject to planning.