Friday, July 30, 2021

Nottingham industrial estate reaches full occupancy

A Nottingham industrial estate has reached full occupancy.

Caisson Investment Management Limited, working in partnership with Barwood Capital, acquired Swinstead Close Industrial Estate in 2019, implementing a strategic refurbishment of the estate.

This has seen six lettings concluded by FHP Property Consultants, working with Joint Agents Commercial Property Partners (CPP).

The new tenants include Lighthouse Display, who obtained three units, Gracie Barra Limited, City Fibre Limited, and most recently the letting of Unit 7 Swinstead Close to Exact Precision Engineering Limited.

The total space let since Caisson Investment Management acquired the estate extends to over 30,000ft² and the lease lengths extend to over five years certain with the new tenants.

Dan Maynard of Caisson Investment Management said: “This has been a fantastic acquisition with our JV partners, Barwood Capital. When we acquired Swinstead Close, it was in a sorry state, with vacancy running at 60%.

“Today, we have a fantastic mix of tenants and the estate is unrecognisable. Kudos to both of our agents, who have worked very hard to achieve this. We now need another estate in Nottinghamshire!”

Chris Proctor of FHP Property Consultants said: “This has been an excellent news story, having originally taken a call from James Burgess at Caisson Investment Management to provide occupational advice when they were looking to acquire the site, through to working with Dan Maynard and Barwood Capital on the refurbishment of the estate and the re-lettings.

“The estate now sits fully occupied with new headline rents, long term leases and an excellent professional looking industrial estate.”

Stuart Waite of CPP said: “The estate has been completely transformed by our client since they acquired it back in 2019, enabling us to promote good quality industrial stock in a market starved of supply.

“Reaching full occupancy and setting a new headline rental tone for comparable stock in the process is a real endorsement of our client’s decision to comprehensively refurbish the estate.”

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