Sinfin Commercial Park full after double letting
Harworth Group has said it has now fully let Sinfin Commercial Park in Derby following the two new lettings, which it expects to add over £250,000 of additional income from the Park.
Unit F, a 64,185 sq ft warehouse, has been let to logistics service provider ATL. Meanwhile, Advanced Pipe Inspection (UK), pipe leak inspection and detection specialists, has agreed to let Unit D3, a 2,990 sq ft unit. Both units have been let on a five-year lease term.
Harworth bought Sinfin Commercial Park in September 2015 for £7m as part of its strategy to improve the quality of its recurring income portfolio. The park is now fully occupied with over twenty tenants, including Network Rail and Morgan Technical Ceramics.
Callum Foley, assistant asset manager, Harworth Group, said: “These two lettings add over a quarter of a million pounds of new rental income, ultimately supporting Harworth to cover its business costs as it expands its presence across the Midlands. Fully letting Sinfin Commercial Park is a key business and personal milestone and I thank our advisors for their diligence in getting these and other deals over the line in 2018.”
Jon Ward, managing director at ATL, said: “Over the last five years, we’ve doubled in size so we’ve been looking for additional storage to accommodate this growth and meet increasing customer demand. We are therefore pleased to acquire the new warehouse in Sinfin to be used as further storage space for two of our key customers and help us on our journey to develop into a key logistics hub in the heart of the country.”
Innes England and Keebles acted as advisors to Harworth on both deals.