Sunday, December 5, 2021

Engineering business expands in Derby

SGS Engineering (UK) Ltd has taken 17,500 sq ft at Westside Park, Derby by way of a new 5-year lease.

The detached modern workshop/warehouse premises with two storey offices (Unit 8) was sold last month to Leicestershire-based investors, Manston.

Following this acquisition, the purchasers retained Salloway to market the property on a leasehold basis.

Chris Keogh, associate director, Salloway, said: “Once we were appointed to market the leasehold interest, we quickly set about generating quality enquiries which resulted in strong interest from four potential tenants.

“SGS obviously have a heavy presence at this location and therefore, represented the most attractive proposition for our client so terms were quickly agreed.

“It’s a real positive outcome given that the property had only just been speculatively acquired with a view to generating a return and therefore to conclude the transaction in under a month is a testament to demand from tenants/owner occupiers seeking good quality industrial space.

“This summer we have already traded 70,000 sq ft of industrial space with a further 155,000 sq ft in the pipeline which is either under offer or due for completion shortly.

“A special word must also go to the legal counsels; Elvin Moore Solicitors (Rachel Briggs and Alison James-Moore) who represented our client and Underwood Vinecombe (Mark Vinecombe) on behalf of the tenant both of whom acted in a highly professional and skilled manner to expedite the transaction in such a short space of time.”

SGS Engineering was established in 2003 when a gap in the market was spotted for UK manufactured gas struts that could be built to an exacting standard and distributed quickly over the internet.

The company has grown to occupy multiple sites across Derby.

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