Heating and ventilation company warms up with 60,000 sq ft warehouse
Heating, ventilation and air conditioning company, the Vaillant Group, has taken a 60,000 sq ft warehouse at Castlewood Business Park.
Acting on behalf of Meridian Lightweight Technologies, M1 Agency brokered the sub-lease of the premises to Vaillant Group, represented by Savills.
Toby Wilson of M1 Agency said: “Following competitive interest, reflecting the current demand for prime warehouse space in the East Midlands, we are pleased to have agreed terms and the letting to Vaillant Group. This securing a high quality tenant, at the same time enabling Meridian Lightweight Technologies to mitigate their ongoing lease liabilities. A good result all round.
“Occupier demand within the region remains robust and we do not anticipate any slow down to this in the short term. The supply of stock remains a frustration, but commitment to speculative development across the region, for which we are already securing pre-let interest, will help to relieve the in-balance as we go in to 2022 and beyond.”
Jessica Landon of Meridian Lightweight Technologies said: “As part of a period of restructuring of the business, we are delighted that M1 Agency managed to secure a sub-let for us only a short time after being instructed and we welcome Vaillant Group to the building. Not only was the speed of this deal great news for Meridian and the new incoming sub tenant alike but M1 Agency’s professionalism shown throughout this deal has been second to none.”
George Unwin, director at Savills London who acted for Vaillant, said: “we were pleased to be able to satisfy Vaillant’s requirement here at Castlewood, agreeing a lease term that works for the Group’s strategy and helps to facilitate the continued growth of the business across the UK. Savills look forward to continuing our work with Vaillant Group – building upon this successful acquisition to maintain and grow their service offering in terms of products, and the training of the engineers that build and install them.”
