Warehouse deal enables floorcoverings group to roll out expansion plan
A Coventry floorcoverings group has agreed a major pre-let agreement on a 75,000 sq ft warehouse in the city to facilitate its continued expansion.
Amtico, which will relocate from Kingfield Road, has agreed to lease the 75,350 sq ft property at C75 – a seven-acre site at Pilot Business Park, close to Coventry Airport,.
The business park is a joint venture development between M&G Real Estate and Chancerygate.
Mark Halls, head of logistics at Amtico Flooring, said the new unit would be a ‘showpiece’ building for the company.
He said: “We were very keen to obtain Pilot Business Park – it’s close to our factory so we can retain our staff and continue to support the local economy, something that’s important to us. It’s a good size, well-constructed and meets all our needs for accessibility and sustainability.
“Amtico consider Pilot Business Park to be our showpiece building, supporting the future growth plans for the business, allowing us to expand our warehousing and Flooring School training facilities so support increased sales and production levels and new product ventures.”
David Penn, a partner at Bromwich Hardy, advised on the deal, which keeps dozens of jobs in the city.
He said: “Pilot Business Park has been a huge success and is already having a positive impact on the regional economy.
“To attract a company of such a pedigree on a local, regional, national and international in Amtico is great news and it’s a very positive for the city that the firm is choosing to grow here.”
Mr Penn has been involved in Pilot Business Park since its inception and helped agree the sale of the land to Chancerygate before the development, the funding transaction with M&G Real Estate and the subsequent letting to Amtico.
He added that the deal highlighted the demand for employment space in Coventry.
“The fact that the property is let before practical completion is indicative of the quality of the location and the development at Pilot Business Park but also the demand there is in this region for quality space,” he said.
“That’s why we must continue to press the claim for more employment land in the sub-region.”
Pictured, from left, are: David Penn, Bromwich Hardy; Stephen Hibbert, M&G Real Estate, Mark Halls, The Amtico Flooring Company, Ben Naylor, The Amtico Flooring Company.
