More than 60,000 sq ft let at industrial estate following refurb

More than 60,000 sq ft of space has been let at a Nottingham industrial estate following a refurbishment programme.

Commercial Property Partners (CPP) and FHP Property Consultants, joint agents on the scheme to fully refurbish and let units D1 & D2 at Long Eaton Industrial Estate, have attracted two new tenants.

Unit D1, totalling 41,301 sq ft, has been let to Galaxy Insulation on a 15-year straight lease term. The business will occupy the premises as its East Midlands branch, which takes its total number of branches to 12.

Unit D2 at 21,162 sq ft has been let to Silicone Altimex on a new 10-year lease term. The business provides elastomeric solutions to medical device and bio-pharmaceutical manufacturers.

Chris Proctor, associate director at FHP Property Consultants, said: “This was a fantastic result to be involved in, with the strategic refurbishment leading to two long- term leases. It just shows that with a forward-thinking client there is great potential in refurbishing older assets and giving them a new lease of life.”

Sean Bremner, director at CPP, said: “It is great to have been part of this hugely successful project. Our client applied a pro-active strategy to the refurbishment works, engaging the entire team to ensure the product would be well- received by the market. The calibre of occupier and terms agreed within the respective deals are testament to that strategy and we are confident the new tenants will continue their successful operations from the property.”

The units are owned by Mileway, the pan-European last mile logistics real estate company.

James Chasen, senior asset manager at Mileway, said: “This refurbishment illustrates Mileway’s commitment to providing customers with an exceptional level of service and our drive to support the communities we serve. We are pleased to secure these long-term leases, showing continued strong demand for our high-quality assets in key locations.”